Real estate
Events
BY CARSON WEAVER
BY JOVANNA AGUILAR
Houston industries could see impact after interest rate cut it easier to purchase a car, easier to purchase a home,” Jankowski said. “On the business side, it Federal funds rate
December
January
Teen Wonderland Party The Atascocita Branch Library is holding a holiday party for teens featuring snowball fights, holiday goodies and an ugly sweater decorating station. • Dec. 19, 5-6:45 p.m. • Free (admission) • 19520 Pinehurst Trail Drive, Humble • www.hcpl.net
Partnership Lake Houston Chairman’s Ball This ball will honor outgoing Chairman Connie Chandler and incoming Chairman James Alexander. • Jan. 17, 6:30-11 p.m. • $200 • The Clubs of Kingwood, 1700 Lake Kingwood Trail, Kingwood • www.lakehouston.org Georgette Jones Country singer G eorgette Jones will take the stage at the Charles Bender Performing Arts Center. • Jan. 17, 7 p.m. • $30 (admission) • 611 Higgins St., Humble • www.charlesbendertheater.com 7th Annual Life After Talent Show Nonprofit Love Has No Disability Inc. is presenting a talent show at the Humble Civic Center. • Jan. 19, 3 p.m. • $65-$520 • 8223 Will Clayton Parkway, Humble • www.lovehasnodisability.com
On Sept. 18, the Federal Reserve cut its federal funds rate, the amount it charges banks, to 5% from 5.5%. On Nov. 7 it was lowered again to the 4.5% to 4.75% range. Experts said the interest rate cut could bring down mortgage rates in Houston, while making things such as cars and homes easier to purchase. The background The cut was larger than the National Associa- tion of Home Builders projected in August. “Recent indicators suggest that economic activ- ity has continued to expand at a solid pace,” reads a Sept. 18 statement from the Federal Reserve. The details The rate cut might be the best news for interest rate-sensitive industries like real estate, said Pat- rick Jankowski, senior vice president of research at the Greater Houston Partnership. “When they lower interest rates, it should make
makes it easier to expand your business.” However, Jankowski said the effects of the Federal Market Open Committee’s decision—the entity that sets a target range for the federal funds rate—might not be felt for three to six months. Diving in deeper Matthew Reibenstein, president of the Greater Houston Builders Association, said the cut reduces mortgage rates and the costs related to financing developments and home construction sites. Houston Association of Realtors Chair Thomas Mouton said there have been potential homebuy- ers who have opted to rent instead of purchasing. He said he hopes when those leases are up, they’ll look at getting back in the market. “They never were incentivized with the higher rates to go on and actually start looking or to upgrade their next home,” Mouton said.
The Federal Reserve cut its federal funds rate in September and again in November.
6%
‘Mean Girls: The Musical’ Summer Creek Playhouse is presenting “Mean Girls: The Musical.” • Dec. 19, 6 p.m.; Dec. 20, 7 p.m. • $15 • 14000 Weckford Blvd., Houston • www.scplayhouse.org
5%
4%
Denim and Diamonds Casino Night This annual event supports the Riverwood Middle School Parent Teacher Association’s mission to enhance student education through enrichment programs. The event will feature dinner, a cash bar, music, dancing, live and silent auctions, a wine pull, a raffle and casino games. • Jan. 24, 6 p.m. • $85-$950 • The Clubs of Kingwood, 1700 Lake Kingwood Trail, Kingwood • www.riverwoodpta.membershiptoolkit.com
3%
2%
Noon Year’s Eve Party Kids can celebrate New Year’s Eve early at the Kingwood Branch Library with a photo booth, crafts and cider. • Dec. 31, 11:30 a.m. • Free (admission) • 4400 Bens View Lane, Kingwood • www.hcpl.net
1%
0
2022
2023
2024
NOTE: THE DATES ARE BASED ON WHEN THE FEDERAL OPEN MARKET COMMITTEE MET.
SOURCE: FEDERAL RESERVE SYSTEM/COMMUNITY IMPACT
PORTER 23611 Hwy 59 (281) 354-0733 HUMBLE 19322 US-59 (281) 540-7202
KINGWOOD 1420 Kingwood Dr (281) 359-7115 ATASCOCITA 7034 FM 1960 E (281) 812-3100
Powered by FlippingBook