Best Oil Downturn Houston has ever seen

According to Ted C. Jones, Phd, Chief Economist, Stewart Title Guaranty Company, Houston experienced the best oil downturn ever seen.

Ted projects the interest rate will increase mid-2017 to mid-2018 up to 4.7% to 5.3%. This is still an historic low for mortgage interest rates.

Keeping in mind that home owners moves on average every 7 years, a 5-year Hybrid ARM that has a max adjustment of only 1% every year may be an option for home ownership. This type of loan has a typical interest rate of 3.4%.

Ted says, “Thinking of things changing, but still doing what we’ve always done”.

It’s still a good time to buy a house. The Houston Economy is still strong and growing.

Contact me for information on purchasing a new home in 2017.

michellesealyproperties@gmail.com


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Disclaimer: The views and opinions expressed in this blog are those of the author and do not necessarily reflect the official policy or position of the HRIS.
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