Wednesday, August 7, 2019

Reasons to Buy a Second Home NOW

Are you thinking about buying a second home at the Lake of the Ozarks? There are many reasons why now is such an incredible time to make your purchase. Team Lasson is your resident mortgage lender at the Lake of the Ozarks, and we want to provide you with the information that you need to help you make the best decision about your real estate purchase. Here are a few reasons why NOW is an incredible time to buy a vacation home at the Lake of the Ozarks!

The Federal Reserve

If you have not been paying attention to the Federal Reserve in the last week, they cut the Fed Funds Rate by .25% to 2.25%, which was the first rate cut in 10 years. While many are wondering why the home loans rates are not declining by .25% parallel to the fed action, there are some good reasons why. While the FFR (Fed Funds Rate) has no effect whatsoever on home loan rates, they are driven by pricing and trading action in mortgage-backed securities. These tend to ebb and flow with the direction of the US 10-Year Note.

The interesting thing to note, though, is that since last November up until last Wednesday’s Fed rate cut, home loan rates have declined by over 1.00%. Home loan rates are already declining by so much!

In the end, all of this means that home loan rates are near three-year lows and, thanks to low inflation, the slowing growth around the globe, and the U.S./China trade war renewed, rates may likely go lower still.

Take Season Into Consideration

As the Summer season starts to come to a close, this could be a huge asset to you in your home hunting ventures. The advantage of buying after the close of a busy season is that you may just find a really good deal on the home of your dreams. Not to mention, the Fall season will be creeping up soon, and the Lake of the Ozarks was voted one of the best places in the country to enjoy the changing colors!

Now is the perfect time to purchase your new home or condo!

You Can Close Before the End of the Year

For those who are purchasing homes exclusively for personal enjoyment, closing in 2019 could provide some great benefits! Generally, you can deduct your mortgage interest and real estate taxes, the same as you would on a primary residence. By getting your vacation home purchased now, you still have time to make payments and build up the mortgage interest before the end of the year!

Vacation Properties at the Lake of the Ozarks

If you are considering a purchase, you may want to think about it sooner rather than later. Team Lasson feels that NOW is a great time to buy a home, and we would love to help you through the process. Visit our website at, to learn more about us, or give us a call to schedule an appointment. We would love to chat with you about your goals!

For Lake area news, resources and tips on financial services, please 

Michael Lasson
Senior Loan Officer
NMLS #: 493712

4655 B Osage Beach Parkway
Osage Beach, MO 65065

Direct: (573) 746-7211

**The postings on this site are my own and do not necessarily represent First State Bank of St Charles’s positions, strategies, or opinions.

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