New Mexico Mortgage Rates
Fueled by a rock-solid economy and job growth, New Mexico's real estate market is still breaking records with its stellar performance. The state offers a wide variety of housing opportunities, most of which are newly-constructed properties, particularly in Rio Rancho and on the west portion of the river. The older towns, which feature a Southwestern appeal, continue posting strong resale activity. Residents throughout New Mexico benefit from a reasonable commute time to the metropolitan areas. In 2006, the top-ranked city in the nation for careers and business was Albuquerque. That year, it was also listed as the 3rd smartest place to live in the country. Its low-interest construction loans and tax incentives continue to lure an unprecedented number of new enterprises to its healthy and expanding economy. Albuquerque is a popular place to relocate for retirees and job seekers. It is the highest appreciating market in the United States, and with the affordability it offers residents, its long-term projections are very positive. Another city included in the 2006 Best Small Places for Business is Las Cruces (ranked #2). Its market boasts a strong appreciation rate and a swelling sales volume. Its rental market is particularly appealing to investors, most of whom have been able to rent out their homes in a short time frame that far surpasses the national average. New Mexico is also home to a rising second home market by the name of Santa Fe.