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.
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