The fed rate cut yesterday was great news for the Frisco, Allen, Mckinney and Collin County Real Estate Market. This will provide continued low (historically) mortgage rates for buyers. To make a very long complicated story easy, lower rates keeps buyers in the market. It is no new news the the overall numbers (transactions) were down for this area. But as many have agreed, the local market has not seen the impact that the national market has seen. The lower interest rates will however pump fuel in the tank of the potential buyers and create opportunities where there otherwise were not.
The overview is simple - lower rates = better opportunities for buyers to keep mortgage payments low = greater number of buyers. Yes, I realize that it is much, much more complicated than that, but in a nutshell, that is the reality on the street. Interest Rates seem to be the biggest factor that links this area to the national trends.
Comments (0)Subscribe to CommentsComment