Renae Stucki Realtor makes it a habit of keeping her ear to the ground and discovering anything that might affect you, your home and your mortgage…
With the country still in financial turmoil, Fed Chairman Ben Bernanke announced today the Federal Reserve will NOT begin tapering off their stimulus efforts. Under increasing pressure from the president to retire and with the press barking on his heels as scandals take one potential inheritor after another out of competition for his job, Bernanke stood tall and took a stand today! His response to government pressure, a slow economy and congress voting to raise the debt ceiling?
That’s right, folks. You heard it here first! There’s no tapering, no jostling for position, no crushed bows under the weight of a presidential boot.
The Fed is going to continue to support the US economy until Bernanke officially retires or things start to look better.
How does this effect you? Well, on the assumption the Fed was going to ease up on its stimulus and the retirement of the Chairman, interest rates have started climbing. There’s been a rollercoaster on the stock market. Although things have been getting better, they’re still shaky.
However, today’s announcement changes the game in many ways. We’ve bought some more time. The interest rate will plateau and hold steady for awhile and stocks will hopefully start moving in a more predictable and stable fashion. If Congress can come to an agreement on the debt ceiling quickly we may be in for a pleasant holiday season.
You can still get a decent rate on a home mortgage. That’s the biggest bonus you should take from this confusing message. And that makes the rest of this year a great time to shop around and find a property you’re happy with. Full speed ahead shoppers!
For those of you interested in hearing a little more about the Fed announcement, you can listen to Marketplace report on it HERE.
Find what you’re looking for today and let Renae help make your dreams of home ownership come true.