Rumor has it that the Federal Reserve is going to slow the pace of its continuing credit tightening plan. Which means interest rates may not be raised for a while.
I think this is good news but, again, it is just rumor based on reports derived from the Fed’s last meeting on November 1st. Initially this is good news because it means more potential homeowners have an extended opportunity to purchase before rates continue to rise. I’ll make one bet with you though – rates will go up within a month or two after the new year. At least that’s my opinion and I base that on the historical rise and fall of interest rates.
Have a happy Thanksgiving.