There’s still time to take advantage of historically low interest rates with Agrow!
The USDA’s annual land value survey shows cropland average values up 0.98% and total farm real estate up 1.95% from June 2017 – June 2018. Things have gone particularly well in our area with Texas up 9.1%, OK up 5.3% and LA up 3.3%. This silver lining has helped area farmers and ranchers weather the downturn in crop and livestock prices as cattle prices remain at multi-year lows (recently $112 to $113) and crops like soybeans have been hit particularly hard by the trade war.
Higher land values enable folks to access real estate equity for use as needed. Even though interest rates are going up (WSJP up from 3.25% in December of 2008 to 5.25% on September 27, 2018), we are still low compared to the past. Anyone remember the 12% to 18% rates of the Carter/Reagan days?
Now is the time to access your real estate equity while you can still lock in fixed, low rates. The forecast is for continued increases, so the sooner the better. Give us a call to go over your options and let us show you how to put your financing to work for you.
Austin Office (512) 892-8999 Thibodaux Office (985) 492-1261
Reference: Update on Farmland Values. (2018, Fall). Retrieved from https://www.farmermac.com/flipbook/2018-fall/.