TYLER - Those interested in buying a new home were able to seek advice about the process at a mixer in Tyler on Wednesday night. Altra Federal Credit Union hosted the event at One Realtor Center from 5:30 to 7:00.
"I don't know why they didn't teach you this in school,” home buyer Sarah Bunch said.
She and her husband Aaron Bunch are looking for a new home in the Whitehouse area - a place with few requirements.
"Something that feels like the country, but still close enough to Walmart," Sarah said.
The two have three boys - all in pre-school. With not a lot of time on their hands, they're hoping they get all their questions answered.
Martha Meador with Altra Federal Credit Union hosted the mixer tonight. She said the housing market in East Texas is incredibly great right now.
Anyone involved in the home buying process attended, including realtors, contractors and appraisers, to name a few. This mixer comes after the Federal Reserve announced a 25 basis-point increase in its target interest rate. This is the third rate hike in the last year and a half, according to a study from Wallet Hub.
Meador said it won't impact the purchasing market, but it will impact the refinancing market.
"We've already had some refinances pull out because the rates have gone up, and usually in the mortgage industry, they anticipate when the feds are going to raise rates, so they made adjustments a few days prior to,” Meador said.
She said they’ve already made those adjustments.
Taking in all there was to offer, the bunches say they're making sure to do their research.
"It's a huge investment,” Aaron said. “Making sure you're taking the right steps so you don't end up with whatever the equivalent of a lemon is to a house."
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