It is what I been waiting for the Fed commits it hand. I don't agree this is the right way. I believe they should of funded Fannie and Freddie to loan 4% loans, but hopefully this will work. The issue is that the money that goes into to buy the paper must go back into the lending pool.
Today they posted the 30 year rate under 5%, 4 7/8 and better on 30 year fixed. This will turn most markets, if it holds. Get ready the last time I seen this in November was 1993 and Dec. 1993 was the best sales month of that year for us.
Get ready for a busy time, people will respond and buy. Interest rates drive it all, except for employment, but rates going down will create jobs.
I'm up and will start more new houses and keep my men working!!!! Santa Claus is not dead!
Richard
view my new homes for sale
Is huge news it seems. One of our buyers wrote a deal tonight !!!!