Mortgage rate buydowns, adjustable-rate loans, upgrades and independent representation: what Central Oregon buyers should know before signing a builder's contract.
Buying a newly constructed home in Bend or elsewhere in Central Oregon can be appealing. Modern floor plans, energy-efficient features, attractive finishes and the opportunity to move into a home that has never been occupied are compelling advantages. And in today's housing market, builders may offer another incentive: financing packages designed to make the monthly payment more attractive.
But a lower advertised mortgage rate does not necessarily mean you're getting the best overall deal.
Before purchasing a new-construction home, buyers should understand how builder incentives work, what can be...
When a home hits the market in Bend, most sellers assume the process unfolds over weeks or even months. Showings build, interest develops, and eventually the right buyer appears.
That's not how it works anymore. In today's market, the first seven days carry disproportionate weight. This is when buyers are paying the closest attention, when new inventory is evaluated, and when a home either gains momentum—or misses it.
The phone calls started coming in last week. Buyers who'd been sitting on the sidelines since rates climbed above 7% suddenly wanted to talk numbers again. The reason? Mortgage rates have fallen to their lowest point in over a year, hovering just above 6% for qualified borrowers.
For Bend's real estate market, this shift changes the equation in ways that go beyond simple monthly payment calculations. The question isn't whether lower rates matter—they do. The question is what smart buyers should do about it right now.
A half-point drop in interest rates might not sound dramatic until you run the numbers on Bend's median home price. On a $650,000 purchase with 20% down, the difference between a 6.5% rate and a...