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The Federal Reserve cut its key rate, the federal funds rate, by a quarter point April 30, 2008.
At 2 percent, the rate is at its lowest point since December 2004. The rate cut was the seventh reduction in a campaign that has brought rates down by 3.25 percentage points since September 2007.
The hope in the real estate industry is that financial institutions will now be more willing to lend money to consumers.
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I am a Massachusetts real estate broker and lawyer and co-founder/owner of Buyers Brokers Only, LLC. I am also a partner in the law firm of Rosa & Kres, LLP.
If you have a question for me about any aspect of the home-buying process (i.e., house hunting, mortgages, negotiations, buyer agency, purchase and sale, etc.), please don't hesitate to send me an email. I'm happy to try to answer your question.
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