Good evening everyone,
This is Joe writing. Over the last couple of months, my wife Justina and I have decided to build a new home with KT Homes. We are building in our new subdivision, Rincon Hills, and can't wait to get started!
This will be our first home (yay!), so naturally it can be both exciting and frightening. Enter mortgage rates; I have been watching them like a hawk. Every morning, I jump on my Zillow Mortgage app to evaluate the current rate. It has been driving me nuts. The news of the Federal Reserve rate hike from last week didn't comfort me at all. Since the news, rates have began to slowly rise. After doing some "research," I have learned some valuable information about the rate hike, and what it means for you and me. Listed below is a link to an article from Forbes Magazine entitled, "What The Federal Reserve Interest Rate Hike Really Means For Your Money."
In summary, the rate hike means our economy is projecting growth. Also, rates are still historically low. And of course, the better your credit score, the lower your rate. You still have control of your destiny. It is still an incredible time to buy! So I've decided to count my blessings because we're not buying a new home in the 80s, when rates were 10% at a minimum.
Happy new home shopping, and of course, MERRY CHRISTMAS from everyone at KT Homes!
P.S. Here is a link to the article, read it: http://www.forbes.com/sites/learnvest/2016/12/14/what-the-federal-reserve-interest-rate-hike-really-means-for-your-money/#619418875512
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