An interesting article ran in the Houston Chronicle today regarding mortgage rates. It noted that the average rate on a 30-year fixed rate mortgage "dipped to 4.93 percent this week from 5 percent a week earlier" becoming "the lowest level since mid-December when rates averaged 4.81 percent." On a 15-year fixed rate 
mortgage, the average rate was 4.3 percent, down from 4.36 percent last week!
What great news for Pearland home buyers!
What does this mean for the Pearland real estate market? First of all, it opens the door for Pearland home buyers to lock-in low interest rates on their mortgages. Many thought that mortgage interest rates would begin to increase during the month of May but it is clear that there is still a great opportunity to finance a home in Pearland at historic low rates!
Second, it means that there may be increased interest in houses for sale in Pearland. Pearland is considered one of the best communities to live in. Its easy access to downtown Houston, the Medical Center, Reliant, and more make Pearland an ideal and short commute. Furthermore, Pearland homeowners have access to great schools, shopping and family entertainment.
The Pearland community has a lot to offer home buyers! Due to the low mortgage interests rates, there has never been a better time to buy a house in Pearland!
If you are interested in buying a home in Pearland or if you would like to talk to someone about getting qualified for a home loan, please give me a call! We have a great team of people ready to assist you!
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