My Monday's blog about this week's interest rate reduction Tomorrow's Fed Discount Rate Reduction... What It Means To You? was rated as little too technical.
Honestly, it wasn't my intention to confuse my audience or make it too wordy. I just tried to convey the info closest to the original content since there has been a lot of speculation about the topic.
So, here is the update:
We have great news! The Fed has lowered short term rates by a half point. Hopefully this will be the first step to the improvement in the housing industry.
Keep a watchful eye on long term rates, as the lowering of short term rates does necessarily mean that rates such as the 30 year fixed rate will go down.
Loan programs are changing on a daily basis, and a borrower that is hoping to use a reduced doc, stated income, no ratio, or no doc loan should strongly consider locking in that type of loan while these programs are STILL AVAILABLE!
You know what they say...A bird in the hand...
Also, take a look at this great buy in Shangri-La subdivision in the heart of Daytona Beach (Corner of Beville Rd and Clyde Morris Blvd.)
- Asking Price: $165,000
- 3 Bedrooms, 2 baths
- 2-story
- 3 year-old roof and AC
Not What you looking for? See more listings at www.ProductionTeamofDaytona.com
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