Low interest rates like we are seeing today are just further incentive to invest in a new home, especially an Austin luxury home.
Austin, TX (PRWEB) May 21, 2012
The housing market is beginning to favor sellers in many areas of the country, including Austin, TX, but there is still good news for those thinking about purchasing or starting a new Austin home search. Mortgage firms, the National Association of Realtors, and media outlets are reporting home interest rates as low as 3.04%. Regent Property Group Founder Brian Talley says the historically low rates, coupled with Austin’s decreasing housing supply, benefit buyers and sellers.
In May 2012, the average rates for 30-year and 15-year fixed mortgages fell to record lows for the third week in a row, making home-buying and refinancing more affordable than ever for buyers who qualify for these rates. Credit unions and banks, like USAA, have rates in the 3.5% range for 30-year loans, while major mortgage buyer Freddie Mac reported a 3.79% on 30-year loans, the lowest 30-year rate since the 1950’s. Fifteen-year mortgages can be financed for even smaller percentages.
“Austin is a bit of a microcosm in the national arena,” Talley said. “We’ve always been less affected by national woes than other major metropolitan areas, in part due to our diverse job markets, which include the state government, universities, and major tech industries. This means our housing market hurt less than other cities, and is rebounding faster, too. Low interest rates like we are seeing today are just further incentive to invest in a new home, especially an Austin luxury home.”
About Regent Property Group:
Brian Talley is the founder and owner of Regent Property Group. He is ranked among the top 1% of selling agents out of the 5,313 Austin Board of REALTOR® members. Over the past four years, Talley has been a top producer closing multi-million dollars’ worth of transactions for homes located all over Austin. Talley has been active in real estate since 1998 where he began his career working in retail development, sales, and marketing. He formed Regent Property Group to serve the needs of Austin’s residential real estate clients, helping people buy and sell luxury homes in the greater Austin area. Contact Regent Property Group today at 512-554-9714.