For months mortgage rates have shot up while the Fed has slashed interest rates. What's going to happen now?
I came across an article that was written on CNN that I really found interesting and informative. With the slowdown of our economy, the Feds are continuing to find ways to stimulate the economy. The real estate market is the best way of doing so. I would like to share this article with you so you can gain a little more information as to what this means to you–a potential homebuyer! Despite our slowing economy, real estate does continue to be an excellent investment, and I hope you will agree after reading.
“NEW YORK (CNNMoney.com) — If you have a mortgage, carry credit cards and are considering a home equity loan to cope with soaring food and energy prices, you should be paying attention to what the Fed has to say. On Wednesday, the Federal Reserve held a key short-term interest rate steady, following a series of steady rates cuts – a move that signals to some that rates are about to change direction. And most assume that means consumer lending rates will rise as well.
For more on this article: http://money.cnn.com/2008/06/25/pf/fed_rates/index.htm?cnn=yes
If you have any questions or comments, please call me at 603-356-5757 or my cell 603-986-5956. Email – Ed@BadgerRealty.com