Federal Reserve Chairman, Ben Bernanke (shown left), and the Federal Reserve Board voted unanimously today to lower the federal funds rate (the interest rate that banks charge each other) by 0.5%. This is the first such rate cut in 4 years. Most economists were predicting only a 0.25% cut.
For more details, read CNBC.com’s “Fed Surprises Investors With Steep Rate Cuts“.
With housing inventories high and lower interest rates, it’s an awesome time to buy! Call (847.890.5270) or email me, if you’ve been thinking about buying a home.
ABOUT THE AUTHOR
Fran Bailey shows, previews and tracks downtown Chicago homes for sale giving her the insights needed to help her clients negotiate the best price and terms. Fran has been quoted in numerous Chicago and national publications. To schedule showings of listings regardless of broker or to contact Fran email her at fran.bailey@bairdwarner.com or call 773.793.4516. Learn More
Fran Bailey, Realtor
