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If you have been "on the fence" about whether or not to buy real estate, "Here's Your Sign!" to quote the famous comedian, Bill Engvall.
Rates were cut today to a Historic low. The federal funds rate (which is the the interest that banks charge each other) was slashed by the central bank to a range of zero to 0.25 percent.
The previous 1 percent target rate has been in effect since the last meeting in October.
This will likely mean 30 year fixed Mortgage rates BELOW 5% with no points...WOW!
Coupled with the fact that Middle Tennessee is still experiencing market appreciation, this is encouraging for those considering investing in real estate.
http://www.ofheo.gov/
Check out the good news for yourself by clicking this link then give me a call so we can get started looking for your real estate "Deal of the Century":
http://www.msnbc.msn.com/id/28223836/
1 comment:
The good news is that rates are still low plus new buyers now have an additional reason to get out and buy a home. Hopefully things will pick up now that we know what the stimulus package looks like and the weather is turning warm.
The stimulus isn't as good as what many of us had hoped for but at least it will give first time buyers a boost and they can free up sellers to move up, down or around the market.
I have a post on my blog that I started to help sell my house where you can get the details of what will finally be signed and download the pertinent section of the committee report.
Cheers!
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