Interest Rates for January 2020 | Taylor Homes & Premier Bank

January 23, 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!

Economic outlook for Q1 2020 is positive! Recent reports show unemployment at a 50 year low, moderate growth in home prices with household wealth and consumer spending up. The US industrial sector has slowed the last 2 years, but residential construction has shown solid gains that have eased the pain of manufacturing slowdowns on the overall economy. GDP is expected to slow in 2020 to 1.7% down from 2.1% a year ago but totally expected. Low energy prices are keeping inflation rates down which is good for interest rates which is one of the reasons why rates are holding steady with the 10 year treasury bond at 1.79 today and the Dow up 38.40 to 29,234. A few short term items to watch with regard to rates are the China Trade deal and Impeachment trial. These two items along with the next jobs report could affect rates in the short term, depending on their outcomes.

For the year, we expect the normal ups and downs of daily rates, but nothing that could have an enormous effect on rates long term. The rise in construction permits in late 2019 points to a strong home building market in 2020 for consumers. With existing home inventory at an all-time low, consumers should be ready to listen to the Taylor Homes’ value story instead of hoping something close to their dream home will eventually come on the market!”
– 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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