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 March 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!
“Really I don’t know where to begin. We are in the midst of the fastest moving mortgage market in history. Coronavirus is the sole driver of the financial markets right now. With stock markets down considerably and jobless rates up the banking industry is trying to aid in the crisis this time as opposed to the 2008 crash when we were its cause. The month of March saw stock market gains for the last 4 years erode and the 10 year treasury bond down to the lowest level in history well under 1%.
With that said the government stimulus package is intended to stabilize the economy until this crisis is past. Mortgage rates were erratic in March and have since stabilized somewhat. Today rates on a 30 year fixed purchase are at 3.25% and a construction loan is at 3.625%. Buying a home is difficult right now with the social distancing constraints which will likely continue to limit properties on the market. No better time to build! Premier Bank continues to lend during these difficult times. Stay well!”
– 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.