Stable Mortgage Rates Are In; Double Height Ceilings Are Out
May 27th, 2008 Categories: Mortgage Update, Real Estate News
With the official start of summer behind us, it seems the Federal Reserve is done with lowering interest rates as indicated in the recently released minutes of their last meeting.
If anything, the Fed’s next move would be a rate increase. That however depends on already existing inflationary pressures in the market and the government’s effort to stimulate the economy.
Bottom line - we may spend the entire summer waiting for some clear economic direction. Second bottom line - current mortgage rates make buying a home a very doable proposition.
Rob Clark, my go to guy at Preferred Mortgage, also offered the following tidbit: builders across the country are reporting that great rooms with double height ceilings are no longer in high demand for three reasons -
- Energy Concerns
- Increased Noise Levels
- Cleaning Challenges
Ummmm, does this mean real living rooms might make a comeback?
Michael
