Lower Mortgage Rates Would Encourage More Demand For Houses

Southern Cross Roofing, a company engaged in repairing roofs and maintenance of the same may be in for brisk business ahead.

 

The housing demand looks like heading for the rise, and requirements for roofing service providers, like Southern Cross Roofing , inevitably will follow the same trend.

 

And it will not only be the roofing service industry that will benefit from a robust housing demand. The paint industry servicing the residential front, too will experience a similar picking up of the business.

 

The Situation of the Housing Market

 

Last year’s sales of houses slowed down when interest rates rose. Previously rising home values showed to peak in the country’s various areas.

 

CNN Business observes that the market for housing is showing signs of bouncing back this year.

 

According to NAHB (National Association of Home Builders) cited an increase in builder confidence starting last month following interest rate drop.

 

House purchase has become affordable, especially for a big number of Millenials intending to buy their first houses.

 

Freddie Mac, a mortgage financing company backed by government, statedthatmortgage rates have remained steady as of last week’s 4.45%.

 

According to Chief economist Sam Khater of Freddie Mac in a release, mortgage demand and sentiments for homebuilder construction are restored, an indication that the lower rates of interest have started to make positive impact.

A report by the MBA (Mortgage Bankers Association) said that the low rates on mortgage resulted in the highest number of current purchase applications. Similarly, refinancing applications have alsoincreased, reaching the highest in March.

 

Rebound of Builders Anticipated

 

CEO Jeffrey Mezger of KB Home observedthe robust demands in previously biggest hit markets during the last housing decline which included Phoenix, Las Vegas and the Southeast. He also noted that a low availability of built homes should also keep the prices stable.

 

The Prospects for Southern Cross Roofing, and Similar Businesses

 

With the rosy picture that is currently trending in the housing industry front, prospects for related businesses, like those in the roofing installation and maintenance certainly also looks bright.

Businesses with solid years of experience behind them – like Southern Cross Roofing, would certainly be a great complement to the other service providers involved in the construction industry.