San Diego, CA (PRWEB) December 14, 2006
Several years ago, interest rates were at their lowest levels in decades. As a result, home construction flourished at a pace not seen since the 1950's. However, 17 consecutive rate hikes by the Fed have tamed the housing market. New home construction is diminishing, and the slowed pace is affecting the prices of materials, contracted labor, and the bottom line of lending institutions.
These conditions can be used to the advantage of price conscious consumers. With sluggish market conditions, banks are looking to maximize their profits. Consumers can benefit from competition between banks in the form of competitive interest rates. The pricing of building materials are at their lowest levels in five years, meaning home packages can be purchased for less than anytime in recent memory.
Arguably, the hardest hit group in this market are contractors. In years past, they would have to turn down business due to their packed schedules. Today, they are struggling to find prospective clients. When they do find homeowners, they are providing highly competitive bids to win the job. All of these conditions add up to provide huge savings to consumers looking to build a home.
Companies, like Nationwide Construction Loans, specialize in helping homeowners through the process. Rick Gomez of Nationwide Construction Loans said, "Building a new home is definitely the best way to own your dream home. We're here to make the process as easy and rewarding as possible." As a broker, they work with many banks so they can provide homeowners with a variety of construction loan programs. They also offer recommendations on building construction budgets and working with builders.
While the housing market has become sluggish, money can be saved by building your own home. Building materials and contracted labor costs have dropped sharply, allowing homeowners to get more for their money. Banks are competing fiercely for new business, and this allows consumers to find highly competitive rates. To learn more about construction loans and financing options, visit http://www.nationwideconstructionloans.com or http://www.californiaconstructionloans.com
About Nationwide Construction Loans:
Nationwide Construction Loans specializes in helping homeowners find and secure a loan for their construction project. They can broker in all 50 states, and offer assistance in finding competitive rates, structuring the loan, and providing advice throughout the project.