Did you know the Fed’s recent rate cuts in the last month have exceeded all cuts made over the entire last year? Yes, in the last 30 days the Fed’s have cut the rates more than they did over the past 365 days by a total of 2.25% ! Let’s hope they know what they are doing and that this is a move in a positive direction for our economy and real estate market.
More proposed assistance is in the works within an economic stimulus package that Congress is ironing out with the Bush administration. The essence of the stimulus package is to increase the max allowed loan cap for conforming loans as well as providing tax rebates and incentives totaling up to $150 billion dollars.
Traditionally rate cuts encourage economic growth giving more wiggle room to those looking to borrow money as well as assisting those who are already in adjustable rate mortgages that are controlled by the Fed’s rates.
In the past two weeks activity on our San Diego real estate websites has dramatically increased… could it be buyers want to know what’s on the market due to the recent rate cuts? It is quite possible.
With interest rates again at a historic low and a market that has an abundance of opportunity awaiting those who choose to test the waters …
Right now the time might be right for those who have been sitting on the fence ……
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