Will the Fed’s Rate Cut Help Mortgage Rates?
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Everyone knows by now about the dramatic rate cut by the Fed’s on Monday.
Many folks assume this will be great news for mortgage rates and we will see more drops. The reality is that is not necessarily true.
We may see a small shift downward, but in the past (several times in 2001 and 2003) the long-term mortgage rates went UP after the Fed’s rate cut (.25% and as much as .78%).
The current rates are the best we have seen in 2 and 1/2 years - that’s pretty impressive. If tou are planning to buy or are in loan process now, it MIGHT be a good idea to lock in rather than wait and hope for lower rates that don’t materialize. There’s no way to know for sure, but it sure bears consideration.
Talk to your loan officer to get some advice before you make a decision.
First Time Home Buyers – Get Organized for Your Move
I apologize for not writing more since the beginning of the year. Somehow things just got away from me, and business has really picked up. A good sign, I would say.
Now that the holidays are passed, we are seeing an increase in inventory – not a surprise, and this can mean for options for your first time home buyers.
If you are looking to buy a home, you probably need to start thinking about getting organized for your move. No one really likes to move but it has to be done. While some folks use movers, a good number do it themselves. Being prepared is important so you don’t waste time.
I am writing a series on getting organized which is likely to have some interest from lots of people – those who are selling and then moving, those of you who are buying your first home, and perhaps even some who are staying put but know their homes and lives are chaotic and want to do something about it.
I have asked Kathi Burns, business owner and Founder of addSpace to Your Life! to help with this task, since she is an expert on getting organized. Need to get rid of clutter? Organize your closets? No matter what, I think Kathi will have some great tips for you. And feel free to pass along the articles or refer friends, family and neighbors to them.
You can read the full introductory article Don’t Let Disorganization Ruin YOUR Move here. Kathi’s first of 3 posts will be later this week, and I will post the links here.
First Time Home Buyers Fair – April 12 and 13, 2008
The California Association of REALTORS (C.A.R.) and the Los Angeles Times are hosting a FREE fair for first time home buyers in Los Angeles.
The fair will be held on Saturday and Sunday APRIL 12 and 13 (NOTE THIS IS A NEW DATE), 2008 from 9 am to 6 pm at the Los Angeles Convention Center.
About 2 dozen programs to help buyers will be held in both English and Spanish. See their homebuyers fair website for more information.
