What does this incredible news mean for Real Estate? :) More to follow!
Added October 1st: Have you seen the back cover of the October issue of the Reader's Digest. Just makes me want to smile some more.
Along with the rally at Boston's City Hall Plaza, I was just reading online at Yahoo Financial News about today's rally on the New York stock exchange. The Dow has set a new high amidst rumors of another interest rate cut. Now, the mortgage rates have not gone down after September's 1/2 percent cut. In fact, the rates have been higher on some days. So why the good feeling?
Well, lower rates from the Fed will mean lower adustable rate mortgages, lower home equity loans, lower credit card bills, to name a few significant items. I don't see why this won't have a positive effect on consumer attitude which will lead to more activity in the real estate market.
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