There are 1 blog entries for September 2008.
Friday, September 19th, 2008 at 3:55pm. 821 Views, 0 Comments.
With all the turmoil in the real estate and financial markets, there is one positive aspect to it all...and that is lower interest rates. In the week following the announcement that the Government was going to bail out Fannie Mae and Freddie Mac, we saw mortgage interest rates drop over 1/2 point in some situations. I personally had a client who signed their loan documents last Friday, only to re-sign them again on Monday, which allowed them to realize a 1/3 point drop in their mortgage interest rate.
Just last night we got news that the Government is going to take even further action to help stimulate the depressed housing market, which according to the experts is the root cause of the other other financial problems that the country is facing. We…