By Susana Field
The average 30-year fixed-rate mortgage dropped to a new record low of 4.71% this last week, according to Freddie Mac. The week before it was 4.78%, while last year the average for a fixed-rate, 30-year mortgage was 5.53%.
The first-time homebuyer’s tax credit has been extended through next spring, and it was expanded to include folks that have lived in their primary home for at least 5 years and wish to move up.
We are also seeing more and more housing deals come on the market here in Steamboat Springs, Colorado. And buyers are taking advantage of this by gobbling up Steamboat’s housing opportunities.
This October Steamboat Springs saw 20% more deals close than a year-ago October. And although the number of deals was up, amazingly the total amount of money spent on those deals was down 33% this year from last. Twenty percent more deals, with a 33% price drop since last year!
November of 2009 saw 58% more deals close than November of a year ago, with a total price increase of only 17%.
Low mortgage rates, tax credits, and great prices! Maybe it’s time to… “Have yourself a Merry Little Christmas…” with a Steamboat house key under the tree. Give us a call and we’ll help you go shopping.
