Wall Street has certainly been on a roller coaster ride, the housing market seems to have bottomed out and lending institutions are experiencing record losses. Our economy is slowing, manufacturing activity is poor and unemployment grew in December and January. The holiday shopping season started off strong on Black Friday but quickly fizzled in the weeks following. Believe it or not there is a silver lining in this storm.
If you do not own a home and have some money saved you won’t find conditions better then they are today. Mortgage rates are very low and sellers are looking at all offers.
The Fed Rate has been decreased several times in the last few months. Recently there was an unexpected .750 reduction with possibly more to come. This is the rate banks are charged to borrow money. How it will relate to further cuts in the mortgage rates remains to be seen. If you are in a position to do so, we suggest that you move forward now. The professionals at Van Dyk are here to help you throughout your entire transaction. We have experienced agents who understand this delicate market to assist you in choosing a home that suits your needs. Our loan officers will find you the best mortgage at a competitive rate and our skilled insurance staff will help you protect your home. Don’t delay call today. |
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