Questions about Buying or Selling?
Call Reed: (541)408-6625
Mortgage Rates, Stocks and the Corona Virus
Several weeks ago, the FED indicated that rates would remain stable unless inflation stayed above target levels for an extended period. Yesterday, the FED dropped interest rates .5% two weeks ahead of their next meeting to try and get in front of the Corona Virus' effect on the financial markets. The impact of the Corona Virus has dropped the 10 Year Treasury Note Yield below 1%, and mortgage interest for many buyers below 3%. When your 401k or IRA are increasing in value, and mortgage rates are at all-time lows, along with rising home valuations, the only question is if the trend is sustainable? Considering the continued influx of people moving to Central Oregon and the shortage of available homes, it seems that the home appreciation will continue. Please call me if you have any questions about planning your next move.
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Purchasing a Brand New Home
Recently, I have shown several new homes to clients from Sisters to Bend. Some of these subdivisions still have lots available, allowing you to choose the site, as well as paint colors and materials. The flexibility this affords you regarding the balance between budget and amenities is impressive. While you check off the features you'd like, one thing that comes up is the ability to add appliances to the list. But, does financing a washer and dryer for 30 years make sense? As always, that depends! Are you buying a first home, are short on cash, but have a great job with security and upside earning potential? Maybe setting up your new home to be turn-key makes sense. If you can pay cash for appliances that have a much shorter lifespan than the physical structure, it might be best to leave your builder out of the appliance delivery business! How can I help you navigate the new-home buying process?
Stellar Realty NW
Reed Melton
(541) 408-6625
What in the world can I do for you?