Interest Rate trends in 2019

Interest Rate trends in 2019

Interest Rate trends in 2019

The Lippincott Team has been busy all summer long, and we’re continuing to work hard for our wonderful clients as we transition into a bustling fall season. If you’re looking to finance a new home or refinance your current home, now may be the perfect time. Here’s why: mortgage rates recorded their lowest monthly average in over three years last month! According to three top industry forecasts, the trend toward low mortgage rates and increased housing construction will continue for the remainder of 2019 and into 2020. Great news, right?

To help put this into perspective for our buyers, we’ve compared current rates to rates from just one year ago. Mortgage rates are currently about 1.25 percentage points lower – and for the average borrower taking out a $300,000 mortgage, that comes out to be a savings of around $225 on your monthly payment, or around $2,700 per year! These incredible rates will benefit our clients at The Lippincott Team, and our buyers will enjoy considerably more purchasing power in a steadily active Northwest Houston housing market.

We’ve watched rates continue to fall for most of this year, and lower rates have translated into a stronger housing market in our area. We’re excited that both home sales and housing construction are holding steady and the low interest rates will help this trend continue into the coming months.

If you’re interested in buying, selling, or learning more about how you can benefit from the current low interest rates, don’t hesitate to reach out to the exceptional team of REALTORs at The Lippincott Team Keller Williams Platinum in Cypress! We look forward to discussing your options with you. Feel free to call us any time at 713-494-1818, or conveniently reach us by e-mail: amylippincott@gmail.com.