By The Kent Redding Group
AUSTIN, TX. – One week ago today we learned that Donald Trump is going to be elected the 45th President of the United States and after the initial shock wore off most people started turning their attention to the Real Estate market wondering how a Trump Administration is going to affect it.
Don’t Expect the Real Estate Market to Change Much
Everyone from Federal Reserve Chairwoman Janet Yellen to Donald Trump knows that the growth of the economy is tied to the Real Estate market. It’s likely that we will see the Trump Administration not make any big economic changes that would affect Real Estate, at least for a while, until the Trump Administration reveals its economic plan for the next four years.
In reality, it’s possible that we could ultimately see the Trump Administration help home buyers because during his campaigning Trump has gone on record saying that he favors simplifying the code and this could make it easier for some home buyers who have been having a difficult time saving money for a down payment on a home.
Good Time to Buy a Home Now
Right now the entire nation is waiting to see how a Trump presidency is going to affect the Real Estate market and the stock market. There’s been a talk from Trump during his campaigning that he was open to reforming Fannie Mae/Freddie Mac, FHA and possibly eliminating the Dodd-Frank act, but the reality is that the only way we will know what President Trump is going to do is to wait for him to take office.
Right now we know that mortgage interest rates are still historically low, and the Federal Reserve has said that they don’t see any reason to raise interest rates right now so it’s a perfect time for any home buyer to get pre-approved for a mortgage loan and take advantage of excellent rates and great home values before they go up.