Interest Rates for May 2020 | Taylor Homes & Premier Bank

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 May 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!

“Happy May! Wow where to begin! Interest rates are still volatile as we head into our third calendar month of the Covid era. Rates have held remarkably well considering record job losses and the continued uncertainty pending the reopening of the country. 30-year fixed rate mortgages on existing homes and refinances start at 3% across the board. Construction financing has held steadier with rates today on a 30 year at 3.625% with Premier Bank.

Premier Bank has continued to operate business as usual during the pandemic and have not imposed tougher underwriting standards for borrowers other than the guidance from Fannie Mae and FHA. All lines of the mortgage business are operational – You can count on Premier Bank!

May takeaway: With the limited inventory of existing homes the time is still perfect to build the new home of your dreams with Taylor Homes!”

– 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.