Awaiting The FED Decision On Interest Rates
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The FED and Ben Bernake are making the expected announcement on interest rates today. One thing that today's announcement will not do, is change the overall state of the market. What it may do is just provide enough fuel to encourage the bargian hunter buyers into taking advantage of the widespread price breaks. In general this is most going to effect activity in the $1,200,000 - $2,500,000 range. The reason for this is that lenders are still trying to balance the effects of the credit crunch. This price range basically takes the Alt-a borrowers out of the picture.
The Alt-a borrowers will be the ones struggling to put together larger down payments than before, as well as spending time improving credit scores.
The FED and Ben Bernake are making the expected announcement on interest rates today. One thing that today's announcement will not do, is change the overall state of the market. What it may do is just provide enough fuel to encourage the bargian hunter buyers into taking advantage of the widespread price breaks. In general this is most going to effect activity in the $1,200,000 - $2,500,000 range. The reason for this is that lenders are still trying to balance the effects of the credit crunch. This price range basically takes the Alt-a borrowers out of the picture.
The Alt-a borrowers will be the ones struggling to put together larger down payments than before, as well as spending time improving credit scores.
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This is such an important topic. Kevin Price also wrote about the FED decision on Interest Rates. Check out his blog at bizplusblog.com.
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Anonymous |
9:15 AM