Real Estate – Interest Rates Down
As I had forecasted back in June, the interest rates continue to cycle up and then correct. This week they hit a 2-month low of 4.32% (30 year fixed). This was due to the Fed’s decision last week to continue the Treasury and mortgage-backed bond purchasing. When the market responded terribly to the Fed stating they plan to cut back on these purchases, it made them realize the economy is still too fragile to mess around.
If you are ready to buy, now is a good time to capitalize.