The economic winds of change are not changing. September continued to be a record-setting month. We got to experience new listings dropping while pending sales increased. Not a good scenario
What Do Interest Rates Do From Here?
It is safe to say the threat of interest rate hikes has subsided. We were told last year we would see numerous hikes from 2018 into 2019. Then after a few rate hikes, they stopped.
I wonder if the FED is worried about the slowing economy? Often we need to read between the lines and I think this is one area that should be analyzed further.
As we approach mid-May we have learned that it does, in fact, appear we have a slowing economy and any rise in rates would slow it more. So now the question is, does the FED lower rates and start QE?
I think we will have to wait and see. But President Trump has made it clear that it is an option. Follow up question is does the FED agree it is an option?
So what does it mean to the average home buyer? You are going to enjoy low rates for 2019 and if the FED approves it, even lower rates may follow at the end of the year.
It is a great time to at least meet with a good lender to go over your options. Then once you figure that out, see if it is a good time to buy.
As always, if you need to run some ideas by a good REALTOR or have questions, call anytime.
I have many interests and hobbies to supplement my busy career in real estate. Although I enjoy my work I also enjoy finding free time to enjoy the most important things in life. This includes being w....