Fears over the potential effects of a coronavirus outbreak have resulted in huge sell offs in the stock market, leading investors to the security of the bond market. These factors have brought mortgage rates close to historic lows. The emergency rate cut announced today by the Federal Reserve will help keep that downward momentum.
Prospective homebuyers across the country have noticed the rate cuts, and begun applying for loans. With rates as much as 1% lower than a year ago, the potential overall savings on a new custom home could easily approach six figures.
The Federal Reserve’s emergency rate cut of a half a percentage point will help solidify these newly lowered mortgage rates. If you’ve been considering moving forward on a new custom home, now is a great time to get pre-qualified.
Visit our Preferred Lenders page for highlights of their various Construction to Perm loan programs.
A custom Potomac Model recently completed in Potomac, MD.