The Federal Reserve lowered its key interest rate by one-quarter percentage point but also signaled the seven-month easing cycle may be coming to an end. That brings the federal funds rate down to 2 percent and the discount rate down to 2.25 percent.
This could be the end to the declining interest rate cycle, if only because the FED now has to worry about our declining dollar, which is not helped by lowering rates. Inflation is now also a concern. We will see how all this plays out in the coming months.
Wednesday, April 30, 2008
Wednesday, April 23, 2008
Back in March of 2007, there were 1189 active listings, 353 homes in escrow and 464 sold... Now, fast forward to March of this year - 2008. There were 1558 active listings, 214 in escrow and 213 closed sales. In other words there were twice as many sales this time last year!
If you are looking to buy a home, now is the time. There is a lot to choose from on the market and deals to be made. Interest rates are very low historically and probable readt to start up soon. Call me for expert help, whether you are buying or selling.