Mortgage Market Updates & Building Dreams with One-Time Close Construction Loans
At Alan Prince Mortgages, we’re committed to keeping you informed about the latest trends in the mortgage industry while offering tailored solutions to meet your unique needs. This week, we’re diving into the latest mortgage insights and highlighting a loan product that can help you build your dream home with ease.
Mortgage Insights: March 2025
Mortgage Rates Are Trending Down
Good news for homebuyers! The average 30-year fixed mortgage rate has dropped to approximately 6.30%, thanks to easing inflation and a cooling economy. This means more affordable monthly payments for borrowers.Steady Market Conditions
While fixed mortgage rates remain stable, adjustable rates like the 5/1 ARM have seen slight declines. This stability is great for buyers who are planning long-term homeownership.Economic Forecasts
Experts predict mortgage rates will hover around 5.9% to 6.3% by the end of 2025, offering a relatively stable environment for homebuyers and homeowners looking to refinance.Housing Market Growth
The housing market is expected to grow modestly at a pace of 3% or less through 2025, making now a great time to secure competitive financing before potential price increases.Low Delinquency Rates
With 97% of borrowers making on-time payments, the mortgage market continues to perform strongly, reflecting a healthy lending environment.
Product Highlight: One-Time Close Construction Loans
Are you dreaming of building your perfect home? At Alan Prince Mortgages, we make it easier than ever with our One-Time Close Construction Loans. This innovative loan product combines the construction and permanent financing into one seamless process, saving you time, money, and stress.
Why Choose a One-Time Close Construction Loan?
Streamlined Process: One loan covers both construction and the mortgage, eliminating the need for multiple closings.
Cost Savings: Fewer fees and reduced paperwork mean more savings for you.
Flexible Terms: Competitive rates and terms tailored to your financial goals.
Peace of Mind: Lock in your rate upfront, so you know exactly what to expect.
Whether you’re a first-time homebuyer or a seasoned homeowner, our One-Time Close Construction Loans are designed to bring your vision of homeownership to life.
At Alan Prince Mortgages, we’re more than just a mortgage provider—we’re your partner in achieving your homeownership dreams. Ready to explore your options? Contact us today at alanprince@alanprincemortgages.com or (248) 881-6589 for personalized guidance.
