Opportunity Calls

November 10, 2008

Some consumers see gloom and doom in today’s volatile economy. Others see timely opportunity, particularly in the real estate sector. With the lowering of the Fed rate by a half or a percentage point on October 29 and mortgage rates that are currently at historically low levels (but rising), coupled with lower home prices generally, many prospective buyers are deciding this is a strategic time to take action.

"Long-term mortgage rates are following long-term Treasury bond yields, pushing up fixed-rate mortgage interest rate levels," said Frank Nothaft, chief economist for Freddie Mac. "House price declines in many markets have improved housing affordability and stimulated home sales."

Posted in Real Estate, Thought For Today