Quite a bit has changed since the Federal Reserve intimated a couple months ago that it might be finished cutting interest rates for a while. Credit has become much more difficult to obtain, Wall Street has shook again and they say the housing slump continued in most areas. As a result, the powers that be at the central bank now appear to have changed their minds about the need to drop interest rates again and are about to do that.
The Fed had cut rates twice this year and Then the problems continued, leading them to suggest that one more cut might be needed.
It is expected the Fed to trim its rate, now at 4.5 percent, by one-quarter of a percentage point this Tuesday. Some even think there is the possibility of a half-point cut.
How do you think this will affect our market?
For us down south,our season has just begun!This is welcome news!It will be our job to get the news out to the buyers that NOW is the time to buy!
For those complaining...get off your duff and get cracking!