Fed Cuts Rates Again!

What does it mean to you?

The Federal Reserve cut interest rates today for the seventh straight time since September of last year. Many experts believe that the Fed is done cutting interest rates and will begin a new watch-and-wait policy. This new policy is due – in part – to the fact that the first Stimulus Act rebate checks are hitting millions of mailboxes this week. The Fed hopes this money gives a boost in the arm to the economy.

If you've been taking a watch-and-wait approach with your home search, now is the time to make your decision.

Consider this: the Federal Reserve Board meets 11 times this year to review the health of the US economy and make adjustments if needed. Don't you think you owe it to yourself to take just a few minutes and do the same with your own financial goals?

Are you taking advantage of this unique market and not letting it pass you by. Here are just a few things to consider:

Today's tougher housing market means there are some great buys to be had if you're looking to purchase. This is an especially friendly market for first-time home buyers.


The government has temporarily increased FHA loan limits in many areas across the US. These government-insured loans are not FICO-score driven and require little to no down payment. Here's the catch: these new limits expire at the end of the year, so you must act now.


You really don't want to play the waiting game if you are holding out for the bottom. That's because there is nowhere for the prices to go but up from here, if we are truly at the end of the Fed's cutting cycle.

Shhhh...I hear the market stirring!

Interest rates have fallen again, the sun came out and so did the buyer's to check out those great opportunities that have been sitting on the market for a while. Inventory is starting to shrink and well-priced homes are moving!

This beautiful listing was priced right and sold in just 6 days!

Interest rates fell last week by nearly a quarter of a point on 30-year fixed-rate money -- down to 5.74 percent from 5.98 percent, according to the Mortgage Bankers Association of America.

New loan applications from purchasers were up by almost 11 percent for conventional conforming loans -- those are the types funded by Fannie Mae and Freddie Mac -- but up by an amazing 21.1 percent for government-backed mortgages, primarily FHA.

I can hear something stirring out there!

It certainly looks like it's going to be an active Spring Market.

Now to represent the entire market...everything is not rosy.
People are worried. They're spending less, and still waiting on the sidelines until they're convinced the market won't go any lower. You don't know it's hit bottom until it starts to rise so....Don't wait. If you can afford the mortgage on that beautiful new home you've been watching...go for it. Just make sure you have a savy "buyer's broker" to help guide you with the pricing and terms. (Hint...I can do that!)