investment minded buyers

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Interest Rates for your mountain home

First off, Happy Holidays to all of our clients past, present and future!

We hope you are enjoying all this great snow. We are having a ball and you know what they say, “If you are lucky enough to live in the mountains you are are lucky enough” We try to never forget this and truly believe it.

According to Freddie Mac, the national average for a 30-year fixed rate mortgage as of December 14, 2023, dropped below 7% for the first time since August, currently around 6.95% which is still pretty cheap money. It is difficult to remember this as we are got pretty spoiled with those 3 and 4% interest rates we have seen for the last couple of years.  On Wednesday, Dec 13, 2023, the Federal Reserve announced that it would not be raising interest rates. YAHOO! This is good news!

Many believe that this means the Feds are halting the  twenty-one month crusade of interest rate hikes against rising inflation. That crusade saw 11 rate hikes since March 2022. The  Fed’s rate hikes affect borrowing and savings rates consumers experience on a daily basis. 

We’ll keep you posted.

Short Term Rental Update

Short Term Rental issues are affecting buyers and sellers in Breckenridge. This letter is the latest from our board of realtors in Summit County. Many people have questions and I have promised updates as they come in, so here is the latest. As realtors in Summit County, we are active in trying to change this new imposition as it applies to investment-minded buyers and the sellers that are having their properties remain on the market a bit longer than the last couple of years. If you were considering making a purchase in Breckenridge this could play in your favor, in the initial purchase price, if you are willing to wait for the short term rental issues to be resolved and become less fluid than they are now. I think it looks promising that the west side of Main Street (referenced in this letter as the Resort Overlay Zone), as they are some of the best real estate investments for ski in ski out rentals, may be exempt from the permit waiting list. Fingers crossed. More to come.

You may download and read the letter from the Board of County Commissioners here:

6.15.22 SAR Letter from the BOCC [pdf]