Interest Rates For Boca Raton HomeOwners

Federal Reserve Expected to Keep Interest Rates Low

The Federal Reserve met last week, and with the U.S. Economy entering a second year of recession, it is anticipated that the Feds will keep interest rates at all time lows for awhile and probably until the end of the year.  Besides making cash loans to banks to try and get the housing market and the economy jump started, the Feds have been buying up piles of short-term debt also referred to as commercial paper from various companies.  They also are buying mortgage-backed securities guaranteed by Fannie Mae, Freddie Mac and Ginnie Mae in an effort to help the housing market. President Obama and Congress are working swiftly to enact a $825 billion economic stimulus package too.

This is all good news for Boca Raton and surrounding area sellers and homebuyers. With credit markets loosening, it will be easier for borrowers to get mortgages and close transactions. We all know how tough it has been out there the past six months for borrowers even with good credit to sometimes qualify for a mortgage.

Great Time for Buyers/Investors

If you have never invested in real estate before, here is your chance to get in while the interest rates are at all time lows, the prices are affordable and there is a large choice of Boca Raton properties to select from.  If you have cash, even better. There are many opportunities to purchase bank owned REO’s and short sale luxury properties as well in the Boca Raton area. 

For more information, please contact our Team.