Why the Coronavirus is Perfect for Homeowners and Home Buyers

HOMEOWNERS AND HOME BUYERS ARE SAVING MONEY

Discretionary expenses have dropped due to the pandemic. With the recent freeze on just about anything—restaurants, bars, social events, life—Homeowners and Home Buyers are saving money.

COV-ID 19 became a public health emergency on January 30, 2020. The virus made headlines for its fast propagation around the globe, it’s disruption to global supply chains, which has caused countries around the world to effectuate travel restrictions, quarantines, and corporate shutdowns.

It may sound like the Flu with an exotic name. Yes, the statistics and empirical data back it up. In the United States, the number of deaths is minimal. The generic flu has a higher death toll. But even if you aren’t afraid of it, you’re still being affected by it. The danger isn’t the grave. It’s the people. The system the Coronavirus has proliferated in.

Two months ago, people didn’t know about the Coronavirus. Three weeks ago, Italy wasn’t under a mass quarantine. The MLB and NBA hadn’t postponed their season. People weren’t getting into fist fights over toilet paper—to be honest, toilet paper is lacking in stores these days. Starbucks hadn’t changed its business model to grab and go. And now, the pandemic is a household name. A conversation topic at the dinner table. Even if you don’t choose to eat at home, you aren’t dining at a restaurant.

IT’S CAUSED HOMEOWNERS AND HOME BUYERS TO THINK TWICE ABOUT DISCRETIONARY EXPENSES

There’s less room for festivities.

The Federal Reserve premeditated the economic fallout by cutting the federal funds rate. This affects short-term and variable interest rates, which is the rate at which banks and other financial institutions lend money. Interest rates are lowered because of this. And with higher wages and new restrictions, discretionary expenses have dropped, and people are finding a little extra cash saved up.

YOUR DECISION

If you’re interested in purchasing a home or refinancing, Starboard Financial is the company that can help you. You can give us a call at: 1-855-STAR-FIN. An email at: info@starboardfinancial.com. Or fill out a form on our Contact Us page: https://starboardfinancial.com/about/contact-us/.

IMPORTANT INFORMATION

* Rates and terms subject to change based on market conditions and borrower eligibility. *