Buyer Tips: Interest Rates in 2019

Last week on Instagram, we posted that interest rates were holding steady & that we may not see more increases in 2019! We got a lot of messages with questions, so we wanted to share a few quick takeaway & stats, and what all this may mean to you as a buyer or a seller.

As of March 27, headlines still read “Mortgage Rates Still Moving Lower After Last Week’s Stellar Drop” (Mortgage News Daily), “Mortgage interest rates dropped last week and may stay down for months“, and “Falling mortgage rates propel mortgage applications” (The Housing Wire)… so if you’re thinking about entering the real estate market, now may be the time to do so!

If you’re not planning on moving in 2019 or 2020, perhaps it’s time to refinance or find an investment property. We work with a lot of great lenders and loan officers that can help you to weigh your options. 

For all things real estate, give us a call today at 832-317-6006.

Coldwell Banker United, REALTORS® – Metropolitan

Katie Day, REALTOR®
2 Greenway Plaza #150 Houston, TX 77046
Phone: 832.317.6006
Email: katie@movemetotx.com
Web: http://www.katiedayteam.com | http://www.movemetotx.com

QUESTIONS TO ASK: When Choosing a Lender

The National Association of REALTORS® publishes a guidebook with a TON of great information to help buyers understand what to expect during the real estate purchasing experience. We’re posting some of our favorite articles here.

Interested in learning more? E-mail us for your own copy today! katie@movemetotx.com

Loan terms, rates, and products can vary significantly from one company to the next. When shopping around, these are a few things you should ask about.

General questions:
What are the most popular mortgages you offer? Why are they so popular?
Are your rates, terms, fees, and closing costs negotiable?
Do you offer discounts for inspections, home ownership classes, or automatic payment set-up?
Will I have to buy private mortgage insurance? If so, how much will it cost, and how long will it be required?
What escrow requirements do you have?
What kind of bill-pay options do you offer?

Loan-specific questions:
What would be included in my mortgage payment (homeowners insurance, property taxes, etc.)?
Which type of mortgage plan would you recommend for my situation?
Who will service this loan—your bank or another company?
How long will the rate on this loan be in a lock-in period? Will I be able to obtain a lower rate if the market rate drops during this period?
How long will the loan approval process take?
How long will it take to close the loan?
Are there any charges or penalties for prepaying this loan?
How much will I be paying total over the life of this loan?

Need help finding a mortgage professional?  Let us know and we can send you a few professionals we’ve worked with in the past!
Coldwell Banker United, Realtors – Greenway Plaza
MOVEMETOTX – Katie Day Team
2 Greenway Plaza #150 Houston, TX 77046
Phone: 832.317.6006
Email: katie@movemetotx.com
Web: http://www.katiedayteam.com | http://www.movemetotx.com