So the feds decided to raise the rates yesterday way in advance of everyone' expectations. We have been hearing that rates will rise all year and this is the beginning of the trend. Any rate drops are temporary and should be used as opportunities to lock in. Consumers that are STILL holding off for lower rates will be greatly disappointed and likely pay more for their home loan.
There is a bunch of mixed news in my opinion regarding foreclsoures and defaults. I just read an article that less people are defaulting compared to last year but foreclosures are on the rise. I don't see the economoy getting any better any time soon. I think most of the figures are skewed or 'cooked' the same way they were before this mess. On the bright side, I think this market has and will continue to create tremendous opportunities for those that take advantage and adapt to this market
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