Fed Raises Bank rate.. Will interest rates follow? INTEREST RATES ON THE RISE?
Posted by UtahCribs, Real Estate, Homes on February 19, 2010
So I am sure many of you have heard the news. The fed announced this morning they are raising the Bank Rate. IF you would like more info on what does that mean, check out this site
Do I agree with this article compeltely? No, I don’t. I think just the opposite, I think this means we can expect the Consumer Rate, or interest Rates to follow in the footsteps of the bank rate. The fed also announced they are going to discontinue the purchase of mortgage backed securities. What do you think that is going to do to the market? Don’t you think that will effect the bond market? In turn interest rates will go up..
So many people are trying to interpret what this means? Well I am obviously a part of that crowd, but I think in more realistic terms. It is reality they will go up, its just a matter of time.
So for you first time home buyers, take advantage of it now, get a low interest rate, get a tax credit, take advantage of the gluttony of homes on the market…