Interest Rates for February 2020 | Taylor Homes & Premier Bank

February 21, 2020

Taylor Homes knows that working with professionals is the best way to ensure the quality of our business. That’s why we work with other experts that help us to better the experience for our customers. One of these partnerships is with Premier Bank, our go-to for interest and mortgage information. We know these details can be a difficult and intimidating process of building your dream home – that’s why we have readily available contacts to help you through these decisions.

See the following update for November from our expert Market Manager, Diane Hance from Premier Bank. Pay close attention, as these updates are directly related to how building your home sooner, rather than later, could be the best move for you!

“Mortgage rates continue to be strong which is encouraging for the spring market. As of today, February 21,2020, the 10 year treasury is at 1.478 slightly down from last week. Recent news driving the short-term economy, stock market and interest rates includes the uncertainty surrounding the Coronavirus and the 2020 election cycle.

The economy added 225,000 jobs and unemployment ticked up slightly to 3.6% in January. Manufacturing continues to shed jobs in greater than expected numbers, but construction payrolls rise. Construction starts continue to carry housing which is great for the economy.

Rates are not predicted to rise or fall significantly as is the norm during an election year. Get while the getting is good so they say and lock your rate now before the busy summer season is upon us. As of today, mortgages for existing homes are starting at 3.5% for a 30 year fixed and 3.875 for a construction loan. Happy home buying!”
– Diane Hance, Market Manager at Premier Bank

If you have any questions about mortgage or interest rates when building your new home, reach out to Diane today at 513-919-3705 or at DHance@yourpremierbank.com.

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