A Few Bits of Good News:
First, in comments delivered today, the Fed Chairman, Ben Bernanke, made it clear that he and the Fed do not feel that the nation is going to be double dipping back into the recession. In fact, he stipulated that the Fed is prepared to take whatever steps are necessary to prevent such an occurrence. The stock market responded with a very nice jump. But more to housing.
Interest rates continue to seek new record lows, and once again achieved this across the board. I am reminded of Chubby Checker's lyrics in the song, Limbo Rock: "How low can you go?!" Wait and see, but don't wait too long. With rates like these, whether you're a buyer or seller, there is absolutely no time like the present to get into the housing market! If you're selling, your home is more affordable for buyers due to these rates. If you're buying, just think how much you'll save by financing now with rates where they are!
Even in a grimmer subject area, foreclosures, the news appears to be getting a bit better. A number of different sources reported today that numbers of new foreclosures have dropped again this month, and a trend appears in the making that this may continue, albeit very gradually.
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