Your Lake of the Ozarks Mortgage Lender: Good News for Home Loan Rates Heading into the New Year

Friday, January 2, 2015

Good News for Home Loan Rates Heading into the New Year

"It's a new dawn, it's a new day...and I'm feeling good." - Nina Simone

The New Year is here and we have plenty to celebrate in the mortgage world! With home loan rates remaining near historic lows, 2015 rang in with plenty for consumers to feel good about. Strong economic news has 2015 off to a great start and your Lake of the Ozarks mortgage lender is here to assist with all your financing needs this year! Take a look at these other highlights from the end of 2014:

Gross Domestic Product

The final reading for Gross Domestic Product (GDP) for the third quarter of 2014 came in at a blistering 5.0 percent, the fastest pace of economic growth since the third quarter of 2003. The big gains were led by a surge in both consumer and business spending. GDP is considered the broadest measure of economic activity, so this is a strong sign for our economy heading into the new year.

Housing Market

In housing news, the October S&P/Case-Shiller Home Price Index came in at an annual rate of 4.5 percent, down from the 4.8 percent recorded in September. The October reading was the eleventh straight month of decelerating price gains. It was also the smallest annual gain since October 2012, as price gains return to more normal levels. Also of note, sales of new and existing homes fell in November as well. The housing market continues to remain in a somewhat choppy trend, despite an improving economy and job market.

Europe's Influence

As we look ahead into 2015, the uncertainty in Europe will continue to rear its head over time. The European Union (EU) is fighting deflation, recessionary pressures, a Greece exit from the EU, and limited political capital required for the necessary fixes. This could lead to safe haven trading in our bond market, helping Mortgage Bonds and home loan rates (which are tied to Mortgage Bonds) in the process.

The bottom line is that home loan rates remain near historic lows, and now is a great time to consider a home purchase or refinance. Let me know if I can answer any questions at all for you or your clients.

If you're looking to start the New Year off by refinancing your Lake of the Ozarks home or purchasing a new home, contact Lakelender Michael Lasson at 573-746-7211. When it comes to your financing needs, I'm committed to working with you every step of the way. I'll discuss financing options, offer competitive interest rates and back it up with the first class service you deserve and I guarantee!

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