Even amidst the backdrop of a difficult economy, 90 percent of homeowners say they do not regret purchasing their current home, according to a recent survey by Bankrate. Of the owners who do regret buying their homes, the most common reasons were because they could not sell their home or they could not afford the monthly mortgage payments.
The survey also finds that fixed-rate mortgages are becoming more popular. Nearly four out of five homeowners (79 percent) say they have a fixed-rate mortgage for their home, and 90 percent of owners who earn more than $75,000 annually say their home was paid for with a fixed-rate mortgage.
A growing number of Americans are more knowledgeable about mortgages. Only 8 percent say they do not know what type of mortgage they have, down from 26 percent who said so two years ago.