(Newswire.net — December 12, 2013) Boise, Idaho —
The stock market has become jittery because the Fed has recently intimated that it may taper or end its Quantitative Easing program that has held interest rates at record lows for the past few years. Will the Boise housing market become equally as jittery if the Quantitative Easing program ends?
Due to the difficult economy of the past five years, the Fed has attempted to move the economy into a higher gear through keeping interest rates at record lows with their Quantitative Easing program, but they have hinted that this may not be a long term solution. Some economists think this stimulus program could end as early as March 2014.
The uneasiness of the last downturn has been replaced by an upbeat attitude in buyers, sellers and realtors in Boise over the past year. However, many Treasure Valley real estate professionals now fear that if the Fed changes their economic stimulus policy, interest and mortgage rates will quickly increase. Their overriding concern is that increased interest rates will slow down, or even kill, the Boise area housing market.
What is the solution for potential home buyers and sellers? Some Treasure Valley mortgage and real estate professional, including Robert Santangelo of The Woodhouse Group (www.woodhousegroup.net) are advising that “this is the time for potential homebuyers to act on the home of their dreams. Currently, the supply of homes in the Boise area is in good supply and mortgage rates are still at record lows. The American Dream of home ownership is alive and well in Boise and the Treasure Valley, at least for the short term.”
Ms. Mandi Feely Swain, a Loan Officer at American Pacific Mortgage (www.mortgageboise.net), suggests that ´”Wise sellers and buyers will take advantage of the current rates to sell or buy. Opportunities to obtain different types of mortgages as well as the option to refinance at low rates are plentiful. Interest rates in Boise tend to be a little lower here than they are in other parts of the US”.
Lenders in the Boise and Treasure Valley area offer a wide range of mortgages and interest rates to qualified buyers. As several mortgage and real estate professionals suggest, now may be the best time to take advantage of the homes currently available. Interest rates are low, making a home more affordable. However, if the Quantitative Easing program ends within the next few months, the currently strong Boise real estate market may be disrupted and home loan financing will surely be more limited as well as more expensive.