Like just about anyone following business and money these days, when Ben Bernanke speaks… The Taylor Stucki Realty Group listens.
Ben Bernanke is an economist and current chairman of the Federal Reserve. Yesterday, he testified on the state of the nation’s economy before Congress. Many Congressmen wanted to know why the economy was still chugging sluggishly along and when interest rates would go up. Bernanke didn’t tell them anything they wanted to hear.
First and foremost, Bernanke doesn’t approve of many moves the government has taken recently and he made his opinions about their bad fiscal policies known. The reason he feels the economy is stalled is because of the restrictions the government continues to put on money.
When asked about raising interest rates, the chairman stated he was prepared to take steps either way. For the moment, the Fed will continue to do as it’s been doing and based on future data, they might take further action. Although with interest rates near zero, there’s not much more they can do.
So what does this mean for you?
Well, as a home buyer in the market, now’s an excellent time to start shopping for a property. The Fed has no intention, at least in the short term, of raising the interest rate. However, the economy is experiencing growth and that growth is spurring some increase in the value of real estate. If you think you can wait a little longer and get a better deal, then you’re not reading the signs right. Prices are going up, but the interest rate is holding steady. Now is the time to lock into a low interest rate and catch a great deal before they’re all gone.
The Fed is worried raising the interest rate will spook the market and cause more declines in stock values, but that is something that is also drawing to a close. Eventually, more and more, things will start returning to a more normal level.
There has never been a more immediate need to take action. You can’t afford to wait any longer.
Contact Renae Stucki
Keller Williams Realty St. George
1624 S. Convention Center Drive
St. George, UT 84770
Office Phone – (435) 216-8764
renaestucki@gmail.com
As a member of the Taylor Stucki Realty Group, Renae is one of a team who can help you take advantage of low interest rates and still find an excellent deal. Don’t wait, Call today!