The good news for Coos Bay real estate is that interest rates appear to be staying put until the US economy gets back on track and stays there. This past week Ben Bernanke, chairman of the Federal Reserve, announced his desire to keep interest rates low due to the fragility of the economy. Unemployment figures are continuing to rise. These increasing unemployment figures are interfering with recovery and affecting real estate and general sales figures in Coos Bay Oergon and across the Country.
Historically low interest rates and low home values combined with the extended and expanded First Time Home Buyer Tax Credit, have been instrumental in boosting real estate sales in the Coos Bay area. These incentives are bringing buyers off of the sidelines and have created a true “buyer’s market”.
Real estate is typically a catalyst for for economic recovery and keeping mortgage rates low will be a significant help in keeping the sales coming.
Click here to see a recent article about Ben Bernanke and his commitment to keeping interest rates low.
Contact Jan Delimont today, 541-290-1850, for more information about Coos Bay real estate and access to the Coos Bay MLS.