Recent Fed Rate Cuts - What Does it Mean For You?

When the Fed cut rates in January, everyone expected mortgage rates to drop soon after. Instead, they rose. Who knows where the recent cuts will lead us. What we do know is that if you locked into a mortgage rate before January, consider yourself a winner! Rates were near historic lows. If you have an ARM about to reset, you should see benefit from the rate cut. This will help many Americans facing foreclosure.

What we do know is that if a buyer is capable of obtaining financing or has cash on hand to purchase a home, there hasn't been such a strong buyer's market in nearly a decade and there are bargains to be found. 2008 is the year to buy if you can, especially in a stable market like Gainesville, Florida.