Tagged : Reno interest rates 
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Treasury pushing for 4.5% interest rates
Tuesday, December 16th, 2008 at 4:48pm. 801 Views, 0 Comments.
The treasury department has presented a plan to loan banks money at 3% so they could in turn loan it to new home buyers at 4.5% and actually make a 1.5% profit. It is currently in the developmental stage and may not take effect until Obama is in office. "This will definitely stimulate sales and get buyers who are on the fence to make a move". What it does not do is address the foreclosure issue, well I guess in a way it does. In this current market, most of the foreclosures in the Reno Real estate market are in the lower price ranges so it would start to chip away at the vast inventory of homes on the market. Right now we have a 13 month inventory of homes on the market, meaning at the current pace it would take that long to sell all the homes on the…
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