A new job report came out recently: The number of Americans with jobs has dropped for the first time in 4 years. Then we’re also seeing the stock market decreasing and becoming more volatile lately. Let’s not forget that there are record number of foreclosures and homes are sitting with “For Sale” signs much longer now.
All this could be enough for the feds to lower their interest rates when they meet September 18th. Experts are predicting a 0.25% cut to a 0.50% cut. There hasn’t been a change since June 2006. It’s hard to believe that according to that chart, the rate was as low as 1.00% about 3 years ago. I wish I would have bought a house then.
So if you’re on the verge of buying a home, it’s best to wait just a little bit longer, and see if you can get a better deal in two weeks.
Part of the Ethernity
Eddie on 09/12/07
Rates have been going down lately, the 18th is just 1 week away, lets hope they go down even more.