buyers: Fed Lowers Rates...
- 10/08/08 07:35 AM
Global Banks Unite in Unprecedented Rate Cuts Ben Bernanke and the Fed brought financial aid to the streets, lowering the Federal Funds Rate and Discount Rate by 0.50%. In an unprecedented emergency move, central banks across the globe joined in lowering interest rates. This move follows Washington's passing of the $700 billion Rescue Plan. From Wall Street to Main Street, a common concern has been heard by Washington. "We need money... no, let me rephrase that...we need cheap money." Rates Could Rise From HereHome loan rates have benefited from the weakness in the financial markets. Fixed rate mortgages remain very attractive. … (0 comments)
buyers: Realtors Seek Loan-Limit Hike With Stimulus
- 01/18/08 04:55 AM
There is mounting pressure for increased limits from a number of groups for California. We will see if this will finally carry the day, or California becomes a permanent high cost state, like Hawaii and Alaska. Raising the Fannie Mae and Freddie Mac loan limit to $625,000 as part of a stimulus package could help 140,000 to 210,000 families escape foreclosure, increase home sales, and boost economic activity by $42 billion, according to the National Association of Realtors. "We believe that any stimulus package must address housing issues and increasing the conforming loan limits for these two government-sponsored enterprises," NAR president … (1 comments)
Global Banks Unite in Unprecedented Rate Cuts
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