A fabulous fall weekend in Jackson Hole gave way to very damp Monday morning. Jackson Hole real estate activity: CLOSED: Recently completed home in Gill Addition with 5 beds, 4,000 square feet, listed for $1.75 million. CLOSED: East Jackson 3-bed townhouse for MORE THAN list price of $429,000 after 112 days on market. PRICE REDUCED: Older Town of Jackson single-family home built in 1962 with 3 beds,...
First Interstate Bank
We’ve been hearing for a good solid six months now that interest rates for home mortgages are about to rise. Any day now. No doubt about it. Yet they have remained at approximately 4.875 percent for a conforming 30-year, fixed-rate loan since late last year. Are they about to rise? Don’t ask me, I’m just a Realtor! But local banker Richard Uhl, vice president and real estate loan officer for First...
Jackson Hole banker Richard Uhl, real estate loan manager for First Interstate Bank, says home loan rates have been gradually increasing in recent weeks. “We are currently at 5.25 percent on a “Conforming” 30-year fixed rate loan. The 30-year fixed Fannie Mae required net yield (wholesale price to lenders) is at the highest level since August 24. As we continue to see a decrease in Fed purchases...
Richard Uhl, real estate loan manager for First Interstate Bank in Jackson, and his associates visited the Sotheby’s office this morning to discuss the current lending climate. About a dozen agents took advantage. Beyond reiterating what we’ve all known for more than a year – lending guidelines for real estate transactions are very tight these days – Uhl and his team spent most of the half-hour...