Interest Rates Are Down - Now May be the Time to Make Your Move
September 19th, 2007 Categories: Mortgage and Finance
You probably heard that the Federal Reserve cut the Fed Funds Rate yesterday. This is the first time this critical rate has been lowered in over four years! What does this mean to home buyers in the Raleigh area?
It means a couple of things.
- the cost of financing a home purchase is now lower that it has been in quite a while
- If you have (or need) a Home Equity Line of Credit (HELOC) the Federal Reserve just put a little extra money in your pocket
There will be another Fed meeting in six weeks and there is much uncertainty about what the possible outcome might be. If you are anywhere close to being ready to purchase a Raleigh home, give me a call right away at 919–602–7000 and I will put you in touch with one of the mortgage lenders I deal with to discuss how to take advantage of this great opportunity.
