Lisa Copeland is the co-founder and chief marketing officer of the Austin Mortgage Associates. She joins Sharon Lechter on the show today to discuss what’s happening in the real estate market today. While some news claims today make blanket statements about the market due to Covid-19, Lisa shares what’s happening with mortgage rates and buyer trends in Texas.
People in Texas, specifically Austin, are buying homes and not selling leading to a shortage. As Texas is an appealing place to live, the real estate is also appreciating in a huge way, making it more beneficial to hold on to a home.
The only benefit that Covid-19 has had for our country is historic low interest rates. Mortgage rates are not based on prime but they do help determine and drive what people are going to do when it comes to purchasing treasury bonds which is what mortgage rates are based on.
There are benefits to a 20 year versus a 30 year mortgage loan. Listen to find out more!