The Fed will most likely cut interest rates on the 31st at the conclusion of the FOMC meeting, and we now expect the Fed will continue cutting at each of the next four meetings to take the FF rate to 3.75%.
It is catch up time for the fed as the economic outlook has turned negative. There is little reason to think the economy can withstand the tightening of all credit and the housing recession, as well as the coming foreclosures.
Source: Shirmeyer Report
Hopefully the rate will continue to drop, drop,drop....Maybe tis will make for a more exciting Halloween.
Just my personal preferrence.
Sean Allen
Sean,
I believe the Fed Reserve will drop 0.25%. Last 0.5% drop was huge at one time. So, they definitely took things seriously.
Nearly impossible to predict beyond Oct.
The help with a drop in Oct. should help leading into the holiday shopping season which is the busiest spending time.
Best time to buy is still NOW. However, with nearly all 100% financing deals going out the door and many people worried about ARMs and other specialty loan programs, getting buyers without perfect credit scores will continue to be one of the major hurdles to get back on track with the real estate market as in the past.
OK, so maybe because I'm not a realtor I would all into that "average buyer" group... LOL
I see lower interest rate and do the math, it turns into a lower monthly payment... at least that's how I see it...
Wrong?
~Sharon
What a day today, Randall,Thanks,
Greg Adelman
Midwest Home Center LLC.
715-483-0012
612-735-4414 cell
612-395-5444 fax
www.midwesthomecenter.com
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