Interest rates cut (again!)
WASHINGTON (AP) — The Federal Reserve cut a key interest rate by one-quarter of a percentage point Tuesday, trying to keep the country out of recession. The reduction in the federal funds rate to 4.25 percent marked the third rate cut in the past three months. Fed officials signaled that further cuts were possible if a severe downturn in housing and a crisis in mortgage lending get worse.
This is a great time to buy a home! It is also a very good time to consider selling your home…. the buyers are out there and the reduced interest rate will help them better qualify for financing.