Permits For New Single Family Homes Reaches Five Year High

Chicago, IL (PRWEB) June 18, 2013

The Federal Savings Bank is proud to echo news from the U.S. Commerce Department’s Bureau of the Census that Housing Starts rose 6.8% from April to May.

While the news for housing starts was positive, the data for building permits on new single family homes was even better as it hit a 5 year high.

“We are telling perspective clients that the housing market is on the road to recovery. Provided personal finances are in order to suggest buying a home now as mortgage rates remain relatively low while home prices continue to rise,” says Nick, a banker at The Federal Savings Bank.

Indeed with the housing market on the rise, first-time homebuyers are being told to review their personal finances and consider the payment factors of a new home. Utilities, property taxes, and mortgage payments are primary factors when deciding to purchase a home. The Federal Savings Bank encourages all first-time hombuyers to purchase a home now as mortgage rates may rise soon based on unemployment.

The Federal Reserve hinted in December 2012 that it will begin to raise interest rates if unemployment fall to 6.5%, On this note, it is important to consider the balance between rising home prices and relatively low interest rates which are still available. This combination gives first-time homebuyers a great opportunity, especially to buy a home based on location that perhaps was not possible in 2006.

For more information on the housing market or obtaining a low rate mortgage, please contact a loan officer at The Federal Savings Bank

Find More Interest Rates Press Releases

Tags: , , , , , , ,

Comments are closed.

CIGI Experts Outline Prescriptions for Cannes Summit and Beyond in Special Report on G20 Issues

Waterloo, Ont. (PRWEB) October 20, 2011 With a possible euro zone collapse and Greek insolvency likely to dominate the upcoming [...]

Pathways Home Health and Hospice Satu Johal Receives CFO of Year of the Year Award; Silicon Valley Business Journal Honoree

Sunnyvale, California (PRWEB) December 02, 2011 Satu Johal, CFO at Pathways Home Health & Hospice, received the Silicon Valley Business [...]

Latest Financial Regulation News

Working Together Towards Better Financial Regulation and Stability in Asia Image by Asian Development Bank Tellers attend to clients in [...]

European financial regulation – 4 questions to Olivier Garnier (Societe Generale)

Olivier Garnier, Chief economist at Societe Generale Group, expresses his view on European financial regulation and its reform. Video interview [...]

AMS Health Care Mortgage Corporation Provides Debt Service Savings to Hospitals Utilizing FHA 242 Mortgage Insurance Program

Jacksonville, FL (PRWEB) August 30, 2013 An oft-overlook and relatively unknown federal program for hospitals seeking capital for needed and [...]

Vermont’s Captive Insurance Industry Off to Best Start Since 2005

Montpelier, VT (PRWEB) April 16, 2012 First quarter licensure of new captive insurance companies is off to a strong start [...]