Good news for home buyers and sellers in Sun City, Surprise, Peoria AZ, Glendale and the West Maricopa county.
Today, the Federal Reserve Board of Governors lowered the federal funds rate by 1/2%. Since many, if not most analysts predicted no more the 1/4, this is good news indeed.
This is the first reduction of this key interest rate in 4 1/2 years, clearly saying the Fed is serious about stabilizing the financial markets and stimulating economic growth in all areas of the economy.
As the financial world digests this, I hope to see a little loosening of credit, more liquidity, and far less doom and gloom about the housing market.
Thanks, Mr. Bernanke.
By the way...if you know someone who is interested in buying or selling real estate in the Sun City Neighborhood, Peoria, Glendale or Surprise, please call me with their name and phone number. Thank you!