Federal Reserve Chairman Ben Bernanke warned Congress that the nation is in for a period of sluggish business growth and sent a fresh signal Wednesday that interest rates will again be lowered to steady the teetering economy.This is good news for real estate. Rate cuts will help mortgage companies recover from the downturn in the market as well as make new mortgage money more affordable for today's buyers.
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Naples, Florida News By Amerivest Realty
February 28, 2008
Another Rate Cut Coming?
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1 comments:
I think that the additional rate reductions will only help soften what is shaping up to be a major recession for our shaky economy. It will probably get a lot worse before it gets better but the market needs a significant correction and has already gotten a good dose of reality.
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