Federal Reserve Surprises Financial Markets

The Fed's met today and made a huge announcement which made interest rates improve and will help extend the amount of time that rates will stay at these historically low levels. Below is a quick summary on what happened today and how it can benefit you.If you are thinking about purchasing a home, now is the time to get pre-approved and find a home. Interest rates are very low which will keep your payments low. The government is also giving first time home buyers a huge $8,000 tax credit if you purchase a home before November 30th. Additionally, home prices have fallen to levels not seen in six to twelve years, while home buyers from coast-to-coast have been buying distressed properties at the rate of 45% of total sales. Now is the time to buy homes.If you have been considering refinancing your home please give me a call. With the current low interest rates your payment can be reduced to potentially save you hunderd's of dollars per month while getting you locked into the security of a 30 year fixed mortgage.