The Feds announced an increase of .25% on 14 th of December and in response, long terms rates dropped a bit (because this was expected and was already 'built into' rates) to about 4.25% on a conforming 30 yr fixed mortgage . Federal Reserve Board sets the rate for overnight loans from bank to bank. They raised the rate to .75% and indicated there is likely to be two to three more raises in 2017. Prime is the index connected to most short term loans ( credit cards, autos lines of credit etc.) and is always 3.0% higher than the overnight rate so prime is currently at 3.75% which is still lower (other than the last 8 years), than any prime rate since 1956.

While it seems that long term, rates may increase in the coming year they are likely to still remain low by historical comparisons. While these increased rates will impact the refinance side of our business we don't expect a negative impact on new purchases in 2017.

So when looking for the best Taos or Angel Fire Real Estate let us help you find your dream home. With amazing homes for sale in Angel Fire and Taos, you are sure to find that perfect home. Are you wanting to sell your Taos or Angel Fire home give us a call. Maybe land for sale in Taos and Angel Fire might be what you are looking for to build your dream home or live off the grid in our stunning Earthship homes for sale in Taos. How about a fabulous condo for sale in Angel Fire or Taos Ski Valley that puts you close to the slopes? Whatever you fancy, we are here to assist. Call us at 575-377-2626 in Angel Fire or 575-758-5852 in Taos our dedicated knowledgeable agents go that extra mile to find exactly what you require. To speak directly to a broker call Paula at 575-770-3306. We are here to serve and welcome you to our growing community.