BofA Report: 70% of Prospective Homebuyers Feel Renting Could be Detrimental to their Financial Future

However, with higher interest rates and home prices, uncertainty over whether to keep renting or to buy a home in the current market has grown. Today, 57% of respondents are unsure whether it's a good time to buy, compared to 48% at this time last year. This trend is even more prevalent among first-time homebuyers, as 62% shared they're unsure what to do. "Given the highly competitive homebuying market, renters are unsure whether now is the right time to buy," says Matt Vernon, Head of Consumer Lending at B ...