Last year mortgage lending rates plummeted by a whopping thirty-six percent (36%), resulting in the lowest lending rates being recorded for the past seventeen years. It has been projected however, that there is likely to be an improvement in these rates over the long term so Property Managers in Denver need not place too much emphasis on a continued decline.
It is expected that the decline will be short-lived since there are increased prospects for the creation of a more robust job market and thus the likelihood that more persons seeking to obtain mortgages will be able to do so. It has also been predicted that there will be a rise of up to six percent (6%) in mortgages available for refinancing as well as a rise in the number of home purchases. Property Managers in Denver therefore need to keep focused on creating a solid foundation now so that they will be able to reap the benefits of the improved market that is expected to develop in the near future.