In this March 3, 2009 file photo, Federal Reserve Chairman Ben Bernanke testifies on Capitol Hill in Washington, before the Senate Budget Committee.Well, it's bad news, but good news following: the economy is contracting, and the Federal Reserve said it would move to buy some $2 trillion dollars in assets. The good news? Mortgage rates have fallen to a record low of 4.875% (as of yesterday), with rates that may or may not keep falling.
“Job losses, declining equity and housing wealth and tight credit conditions have weighed on consumer sentiment and spending,” the Fed’s monetary-policy committee said this afternoon in announcing its move.
With buyers heavily surfing the internet for bargain home prices, short sales, and foreclosures, it's hoping that they'll be quicker to make offers and move on some of their chosen properties, especially with these new mortgage loan rates.
"Properties will sell, and are selling---if they are priced within this current market. People are buying. Our Team has 18 closings scheduled, up from 13 last week," says Realtor and Certified Fractional Real Estate Professional Kenny Hayslett of the Hayslett Team in Clearwater.
Would you like to know what your home could sell for in today's market? Call the Hayslett Team today at 727.443.6700, or email us at info@hayslettteam.com.
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