When most people shop for a home loan, they lead with “please send me your rates” rather than interviewing the mortgage broker or loan officer to see what they’re going to do to work for them. What they don’t understand is the mortgage interest rate quoted during the pre-approval process before you have a signed […]
When Interest Rates are Low, Buyers Can Afford More
The traditional 30-year fixed interest rate loan in Austin has dropped from near 4.0% to about 3.22% over the past year. The mortgage interest rate drops mean greater buyer purchasing power – much greater than a decrease in home prices. With the same monthly payment, buyers can borrow more money today than they could one […]
Time to Purchase Austin Investment Real Estate
WOW! I’m amazed at how quickly a formerly depressed segment of the Austin real estate market can turn around. The Austin, Texas small unit (2-4 units) rental market is a textbook example. The notable drop in home ownership rates from 69% in 2005 to 66% in 2011 has created about 5 million new renter households. […]