Wednesday, March 19, 2008

Rates Increase

Well yesterday I posted it may be a great time to buy a house with the fed cutting rates. Well this cut was more based on short term loans in order to for corporations to take out more short term loans and hire more people which will help the overall economy. This cut the fed made had a negative affect on long term loans such as mortgages and with inflation these rates will now be over 6% instead of staying in the 5.5% range like they should be.

So be cautious as you are looking around and make sure you find the loan that is right for you..

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