The Metropolitan area of Va Beach-Norfolk-Newport News,VA also known as Hampton Roads, ranks fourth nationally as the best city for borrowers by Forbes. This ranking is based on local home mortgage rates,the year-over-year change in the percentage of homes that are 90 days or more delinquent from Jan 2009(2.5%) compared to Jan 2010(3.9%). The number of foreclosures during the same time period , Jan. 2009 (0.8%) and Jan. 2010 (1.4%) was also a factor. This translates to attractive interest rates and home values that will not be impacted as much because of the lowest percentages of foreclosures and delinquencies. Banks are willing to offer better terms and rates for borrowers. In most of the cities on this list, home prices are actually rising.
Here are the 10 cities that Forbes ranks as the best for borrowers:
1. Kansas City, Mo.
2. Houston
3. Dallas
4. Virginia Beach, Va.
5. San Antonio, Texas
6. Boston
7. Pittsburgh
8. Denver
9. Seattle
10. Portland, Ore.
