The Fed Finally Takes a Break

The federal reserve finally has stopped raising rates, leaving the short term interest rate at 5.25%. About time, considering the fact that they've increased it 17 straight times. There has been a definite correlation between higher rates and lower sales in my opinion. Hopefully people interested in buying homes will see this as a good sign and start getting serious about purchasing before the end of the year. The latest rates I've been seeing are around 6.5%, down a bit from the 7's we were starting to get into.