The Fed dropped the Federal funds rate today by 3/4 of a percent, from 4.25% to 3.5%. That's a huge drop.  And there may be further/smaller drops to come.

I know it will take a couple of weeks for the mortgage industry to see the interest rate reductions, but I'm sure hoping that this will "nudge" those people that are sitting out there waiting for the "best" deal on the market.  With prices and interest rates adjusting downward, I'm hoping they will get on the phone and get serious.

 Kristy Petrillo

http://georgiamountains.com

 
Posted by Kristy Petrillo on 01/22/2008 01:11 PM   Comments (0)  
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Real Estate Activity Picks since the 1st of the Year
01/19/2008
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After seeing the slowest months in my real estate career for the months of November and December, things have really started moving since January 1st. In Fannin County 24 Properties have gone under contract and in Gilmer County 21, more than… more
 

Kristy Petrillo

Blue Ridge, GA

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Re/Max Town & Country

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