Real Estate Interests Rates Hit a 40 Year Low

With the federal stimulus tax credits expiring and the seemingly endless foreclosure notices, it’s a good thing banks are keeping rates low. 30 year rates at 4.5%. This might also fuel more refinances which is some stimulus for the economy.

“Yet the falling rates have yet to spark a home-buying boom — or energize the economy. New-home sales collapsed in May after homebuying tax credits expired. The economy also remains under pressure from high unemployment. And many people don’t qualify under tightened lending rules”.

And this is true in Steamboat Springs Real Estate. With so many second homes and vacation rentals on the market, the lending criteria is difficult. See article below.

http://www.usatoday.com/money/economy/housing/2010-06-24-record-low-mortgage-rates_N.htm
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For more on this topic or questions regarding real estate in Steamboat Springs, feel free to call Charlie at 970-846-6435 or write me an email at: charlie@steamboatsmyhome.com. I will answer your post or email promptly with candid and informed answers. Click here to view all properties in Steamboat Springs in “real time” — This is one of the few real estate sites showing all foreclosed and all short sale listings in real time and updated every few minutes.