One thing that has a major drawback to the real estate market is the fluctuation of interest rates. When we see swings of rates even as low as .5% it can make a significant impact on someone's monthly payment. We published an article on www.InvestSmarter.com talking about the minimum monthly payment society that we live in and it really holds true. The majority of people are looking at what they can afford and then as a result what that does to their total amount they can borrow. Whether you are looking at cars or a home, it's all relative.
Daily Real Estate News June 24, 2008
Interest Rates Are Likely to Hold Steady
The Federal Reserve, which opens a two-day meeting today, is expected to leave its key interest rate unchanged at 2 percent when it wraps up the session on Wednesday. Mortgage rates are somewhat affected by this short-term rate, but are more closely tied to long-term U.S. Treasury rates and other concerns. Recent increases in mortgage rates have slowed the problem-plagued housing market and fueled inflation.So what's the Fed to do?"Tread lightly on rates and carry a big rhetorical anti-inflation stick," says Ken Mayland, president of ClearView Economics.Economists predict the Fed's policy statement, expected to be released Wednesday, probably will highlight inflation risks but won't go as far as to signal a rate increase at the Fed's next meeting Aug. 5.Source: The Associated Press (06/24/2008)
So for more information on homes for sale in Panama City Real Estate please visit us online at www.Panama-City-Beach-Florida-MLS.com or www.RandBCoastalRealEstate.com for more information about what is hot and exciting along the northern Florida Coast.
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