Interest Rates in Central Texas

 

What’s happening with interest rates in Central Texas?

Hi everyone! The market is on the move. We predicted it; those interest rates rose from 3.25% to 4.75% in as little as just a month! Sadly, yesterday we had a client who didn’t qualify for the home she wanted because of that increase. It is important for buyers to move now before rates get any higher.

Now, I bought my home 35 years ago when interest rates were 8.75%. I late became a realtor when rates were 10% and during my career I saw as high as 22%! I begged my clients not to buy a home with a new loan with that rate!

The point I am trying to make is interest rates are still historically low; they are super fantastic! So, I encourage you to buy now! Don’t pay rent somewhere and give your money away. Buy your home!

How is the July Housing Market in Central Texas?

Hello from the Shine Team!

We’ve had great sales in May! In fact, this May was higher than both those in 2011 and 2012. The entire market has been moving forward.

What used to be a buyers’ market is now a normal market in our area. Sales have increased across the board, which is great news for sellers in central Texas!

The average-days-on market is 141. Now, keep in mind that is market-wide, meaning it groups together all price ranges and all neighborhoods. That number is dropping! We are expecting a great summer!

Give me a call at 254-690-4321 and the Shine Team can help you buy or sell your home!