Fox Business reported in a recent article that the Federal Reserves cut interest rates on Wednesday for the first time since the start of the financial recession more than a decade ago, hoping to preserve the 11-year economic expansion.
During its two-day meeting, the Federal Open Market Committee voted to ease the benchmark federal funds rate by 25 basis points.
In approving the cut — the range is now between 2 percent and 2.25 percent — the U.S. central bank cited “the implications of global developments in the economic outlook as well as muted inflation pressures.”
This is great news for the home building industry and for buyers looking for a new home!
Contact a mortgage lender and apply for a mortgage pre-approval to get a sense of how much you can comfortably pay in monthly mortgage payments.
At Long Lake Ltd., we recognize the importance of working with quality lenders that help you understand the home loan process!
As a leader in the homebuilding industry, we’ve done the homework for you. More importantly, we’re one of the few builders that offer our customers a choice! The benefit of multiple preferred lenders means multiple loan programs and healthy competition for your business!
By using a local business, you can choose to meet face-to-face, or if you’re constantly on the go, send your paperwork electronically. Over the phone or face-to-face, you’re dealing with a reputable lender that will provide answers to your questions.
Our goal is to help make your dream of owning a home a reality. All of our preferred lenders offer competitive rates and low closing costs.
Ask our onsite sales associates for details on our Preferred Lenders and on seller contributions to closing costs. Some restrictions apply.