Low Mortgage Rates Are Here To Stay, Experts Say

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Mortgage experts forecast that low rates will last through 2020, a popular snack company is set to expand in Garland, and Realtor.com releases its top American housing markets, all in this week’s roundup of real estate news.

Mortgage experts forecast that low rates will last through 2020, a popular snack company is set to expand in Garland, and Realtor.com releases its top American housing markets, all in this week’s roundup of real estate news.

Low Mortgage Rates Are Here To Stay, Experts Say

There’s good news for those who have plan to buy a new home or refinance their current abode in 2020, according to Bankrate writer Natalie Campisi.

“The average 30-year fixed mortgage rate started 2019 at 4.68 percent and steadily declined before closing out the year at 3.93 percent. In 2020, rates are expected to remain mostly stable, not straying too much higher or lower from the 4 percent mark,” Campisi writes.

Bankrate chief financial analyst Greg McBride said he expects rates to hover around that 4 percent mark throughout 2020.

“The benchmark 30-year fixed rate mortgage will hopscotch back and forth over the 4 percent mark for much of 2020, remaining low enough to facilitate homebuying and providing ample refinancing opportunities on those trips below 4 percent,” McBride said in a Bankrate news story.

Source: Bankrate

More Lunchables, Kraft Heinz Snacks Coming To Garland

A $25 million expansion is planned at the Kraft Heinz
plant on Forest Lane in Garland.

The already 266,000-square-foot plant employs about 850; the expansion will create 250 new jobs, thanks to assistance from the Texas Enterprise Zone program.

The 50-acre site is Kraft Heinz’s largest manufacturing plant.

Lunchables, Oscar Mayer Naturals, Kraft barbecue sauce, and Velveeta Skillets, are made on site at the plant, according to a report from Texas A&M University Real Estate Center.

Source: Texas A&M University Real Estate Center

Boise Tops List Of Favorite Housing Markets

You read that right. Boise, Idaho, is now the “hottest housing market” in the country, according to a Realtor.com report.

The study, summarized by Ryan Passy, “identified the housing markets that are expected to see the most notable home sales and price growth in 2020.”

Boise was listed at No. 8 last year. Its median sales price for 2020 comes in at $295,000. Out-of-state buyers are drawn to Idaho’s mild climate and booming technology companies, the report states. The No. 2 market was McAllen-Edinburg-Mission, Texas, with a median sales price of $152,000.

“McAllen’s affordable home prices, combined with Texas’ favorable tax environment, have made the border city an attractive destination for home buyers looking to move,” Passy writes.

No other Texas cities made the top 25. Other high ranking cities and their median sales prices were:

  • Tucson, Ariz., $230,000
  • Chattanooga, Tenn., $189,000
  • Columbia, S.C., $178,000
  • Rochester, N.Y., $149,000
  • Colorado Springs, Colo., $312,000
  • Winston-Salem, N.C., $169,000
  • Charleston-North Charleston, S.C., $270,000
  • Memphis, Tenn., $188,000

Source: Realtor.com

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April Towery

April Towery studied journalism at Texas A&M University and has been an award-winning reporter and editor for more than 20 years. She’s covered everything from city council meetings to Death Row executions. Her favorite things to write are feature stories and humorous columns. She loves to make people laugh. She won first place in humorous column writing, second place in news writing and third place in serious column writing at the 2019 South Texas Press Association Awards and picked up first place in humorous writing at the 2018 Texas Press Association awards ceremony. She has numerous other recognitions, including the Texas Associated Press Managing Editors’ first-place award for special reporting, citing her continuous coverage of the College Station City Council and its violation of the Texas Open Meetings Act in 2006. She is the daughter of a longtime real estate appraiser and at one time knew her way around a floor plan. She lives in Wylie and is learning daily about real estate, architecture, and housing trends.

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