Austin Rental Rates Likely to Rise in the next two years

I attended the 2011 Austin Housing Forecast yesterday.   

If you are currently renting, here is something that might be of interest:    

Austin usually has about 5000-6000 apartment units come on line every year.  In 2011, they are only expecting 800 which may pressure rental rates upward and increase occupancy rates.  

What does that mean for you, a first time home buyer?   Interest rates are currently low, low, low.    Housing pricing in Austin is very affordable.   Increased rental rates and increased occupancy may mean that it will make more sense to look at buying your own home rather than renting.    


Thinking about it?   Plan ahead.  Get your credit in great shape - pay ON TIME!    Don't max out credit cards.   Save money.   You will generally need at least 3.5% down for a home mortgage plus money to pay for closing costs.    


Call us for a copy of the Buy versus Rent brochure and a copy of the First Time Homebuyers Guide.    info@paragonpropertygroup.com      Visit our website at www.PPGTx.com for more information.  

What did interest rates do last week? 1/10/11

Thinking of buying your first home in Austin Texas or the surround Texas Hill Country/Highland Lakes areas?      Rates are still super low, so now is a great time to buy.

Get a First Time Homebuyer booklet or a booklet on Buying versus Renting.  Email:  sue@paragonpropertygroup.com

Visit our website for more information www.PPGTx.com

What Did Interest Rates Do Last Week?
** based on Freddie Mac weekly average survey **
 
30-yr Fixed – Slightly Lower
Last Week: 4.77%
Previous Week: 4.86%
1yr Ago: 5.09%

15-yr Fixed – Slightly Lower
Last Week: 4.13%
Previous Week: 4.20%
1yr Ago: 4.50%

Jumbo Fixed (Average 30-yr Fixed) – 5.125%