We had a local Truckee home lender come to the office meeting this morning. There was the usual, “rates are great”, “there’s never been a better time to buy”, “under-writing is a giant hassle” stuff that has been the norm for what seems like a couple of years now. But, there are also some new loan products, and options for jumbo loans that have been non-existent for a while. The rates are going to be volatile for the near term, as the Fed’s “quantitative easing” has the bond folks nervous and jerky about inflation. As a Realtor, inflation is not the worst thing that can happen. It’s generally good if you own a real estate, as values will increase. Anecdotally, there are more than a handful of homes in Truckee currently under construction. People are making work for themselves for the first time in a while in some of the “nuts and bolts” neighborhoods where new construction has been non-existent. Underwriting, and the ability to qualify for home loans may not be easing any time soon. But creative loan products, and people getting back to work are good indicators that we may be climbing out of this hole.
I’ll buy it. It beats the alternative.
Leave a Reply