--- title: "on gma: 2019 Home Buying outlook" description: Become more financially independent in 2019 by paving your path to home ownership. Watch Lee and Melinda to learn more. image: https://blog.blrmortgage.com/hubfs/GMA%201119%20pic.jpg --- ![blrm_logo-166x45.png](https://blog.blrmortgage.com/hs-fs/hubfs/Mortgage_Site/images/blrm_logo-166x45.png?width=166&name=blrm_logo-166x45.png "blrm_logo-166x45.png") ![logo-rock-mortgage.png](https://blog.blrmortgage.com/hs-fs/hubfs/Mortgage_Site/images/logo-rock-mortgage.png?width=180&name=logo-rock-mortgage.png "logo-rock-mortgage.png") ![blog-bg.jpg](https://blog.blrmortgage.com/hs-fs/hubfs/Mortgage_Site/images/blog-bg.jpg?width=1600&name=blog-bg.jpg "blog-bg.jpg") # NEWS # on gma: 2019 Home Buying outlook Posted by [Blake Montgomery](https://blog.blrmortgage.com/mortgage-newblog/author/blake-montgomery) on Jan 8, 2019 4:11:55 PM ![Blake Montgomery](https://app.hubspot.com/settings/avatar/0d0a314baa0a411b65de2e97005b52d9) - [Tweet](https://twitter.com/share) Become more financially independent in 2019 by paving your path to home ownership. Watch Lee and Melinda to learn more. ![](https://blog.blrmortgage.com/hubfs/GMA%201119%20pic.jpg)  From January GMA interview with Lee Maris No headphones? No problem! Read the transcript below!   Melinda: "We'll also share some of the home-buying from the station that's on your   side this is Channel 7 News good morning Arkansas welcome back to good morning Arkansas we're happy to have Lee Maris back with us of course senior vice president at Bank of Little Rock mortgage and we're talking about the new year people trying to maybe get their finances right maybe buy a new house in there get fired up buy a house in 2019 right yeah is it gonna be a good time to do it though?"   Lee: "I think so 2018 was good our rates jumped up about a point but people are still out there buying and I think 2019 you're gonna see more inventory hopefully rates will stay relatively steady first-time homebuyers seem to be a big part of what's going on  and they need to because renting."   Melinda: "It;s throwing money away isn't it you always talk about that why putting money towards a rental when you could be basically buying it yourself let's talk about the mortgage rights though because the Fed has raised interest rates how does that affect the home market?"   Lee: "Well first and foremost your payment will go up and you can't afford as much house historically they're still low you know our parents are rates at 18 percent we're still around four and a half to five percent 30-year money so they're not terrible but I think a lot of these first-time homebuyers and people are who have not been around a long time we're kind of in shock so we're just hoping you know last year that the rates went up about a percentage point and we're hoping that's gonna slow down even though the feds still wants to keep raising rates I think there's some pushback from certain people mainly our president that says it's killing the stock market and choking off the economy so we want to kind of see that slowdown if you will in 2019 yeah"   Melinda: "we have seen 401ks and the stock market for a terrible December so hopeful that stops we're all hoping for that so how does this affect like how many homes are out there on the market then"   Lee: "I don't really think raising rates affects how many homes are out there on the market I think you're gonna see a lot bigger supply in 2019 than we've seen in the past couple years which ought to help prices come down some that's the biggest thing one of the biggest things that's happened in the last couple years is inventory there's not been any inventory right so it's been a seller's market and if you're a seller you can pretty much ask what you want so if there's more inventory out there more competition prices ought to come down"   Melinda: "yeah more homes I mean everyday we drive around we see new developments going in all the time are you seeing that just more for those being built"   Lee: "mm-hmm especially in West Little Rock yeah I mean we're just seeing a lot more" Melinda: "yeah so that that interest rate you're right I mean we've heard about the three and a half and the four percents and we will still want that so even if that goes up a little so that gears off sometimes"   Lee: "yeah it does but they need to get over that yeah because it's still better than written you know I mean if you go try to find a nice apartment you're gonna pay fifteen eighteen hundred dollars and that's about a two hundred twenty-five thousand dollar house so how you get the mortgage deduction you know hopefully it will appreciate and a couple years you can sell it make money take a step up in house I mean"   Melinda: "yeah it's just a good financial decision to try to buy so if someone is looking at their finances and they're gonna step into this what do they need to do first you think?"   Lee: "you know everybody has a comfort level on what payment they want and call a professional like someone at Bank Little Rock let us run numbers for you and you know a lot of times you can you can qualify for a lot more you want to pay you know you might be able to qualify for two thousand a month but you're not careful with that you only want to pay 1,500 a month so we can back into those numbers and say hey you know go look for a house in this price range"   Melinda: "yeah because you've really got to look at everything going on in your life you got kids in school you know you need you know you're gonna need a new car soon you know look at all of that right"   Lee: "utilities, insurance, yeah absolutely."   Melinda: "yeah so when I'm coming in what I'll do I need to bring as far as my salary, bills, that kind of thing?"   Lee: "yeah usually we asked for a couple pay stubs w-2s for the last two years or tax returns if you're self-employed that'll get us going and we can pull credit and with it within a couple you know hour or two can tell you hey you're pre-approved and go find a real estate agent or go find a house"   Melinda: "and pre-approval really is helpful right before you ever go out and start looking"   Lee: "absolutely because realtor don't really want to drive you all over town and then find out you're not bankable"   Melinda: "right yeah and then as someone who sold a house you love seeing that that buyer has been pre-approved because you know it's not gonna fall through later"     Lee: "and that's another thing if you bring in your pay stubs and your w-2s and we get you pre-approved the pre-approval letter we provide you is legit it's not some just you know over the phone type pre-approval letter with a million holes in it"   Melinda: "all right so if you want 2019 to be the year you get it right get your own home start that life then Bank of Little Rock mortgage is a great place to start and they can certainly guide you through all the steps so you won't be intimidated. 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