Brian Summerfield, Online Editor at Realtor Magazine is reporting some interesting trends for the mortgage industry this year:

Mortgage rates will likely remain relatively low for awhile this year, although credit will continue to be challenging to come by:

1. No new plan will be implemented to reform Freddie and Fannie this year although GOP reps are making reforms a top priority. A speedy resolution is not anticipated, however. When they finally do get some reform through, it will probably include an overt guarantee of government backing.

2. FHA will continue to be the prime mover in the secondary mortgage market, as the main driver of home loans for first-time buyers.

3. Refinances will go down and purchases will go up.

4. Jumbo loans will remain hard to come by.

The good news is that mortgage rates will be relatively low for most of the year, so get your loan aps in now, before the rates rise. And more good news is that purchases will probably go up.

Now's the time to buy, buy, buy. Don't put your new purchase on hold to see where rates go toward the end of the year!

Remember, Angel Fire and Taos are dream destinations for full time living, retirement or vacation investments. Come see us or call us today!