The gently declining interest rate trend is
now in question. The Chairman of the Federal Reserve Board,
Allen Greenspan,
has said that the economy is growing at a suitable rate, therefore;
the "market" feels the Fed will not lower rates in the near future.
Combine those expectations with a Presidential race that looks bad
for a balanced budget and you have the recipe for unstable interest
rates. For the time being, I would lock my rate in and float it down.
( A float-down allows you to lock in certain mortgage rates. Should the rate drop before
your settlement date, you may re-lock at a lower rate with no additional
charge. For more information on float-downs, please
click here.)
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Eastern United States Real Estate
Though conditions are improving, the Northeastern United
States continues to see a sluggish real estate market. Housing
prices have remained stable for quite some time. The hope that lower
interest rates would stimulate home buying has not materialized,
however; the astute buyer realizes the opportunities of a
"Buy Low" strategy.
DANIEL BROUSE
Email brouse@membrane.com
(800) 783-9333 x192
(610) 397-0330 x192
Beeper 215-960-5556