Fed Keeps Interest Rates Steady: Fortunate for Realtors
It was just announced this afternoon that the Federal Reserve will keep interest rates steady. This is the first time in two years that they have not raised the rate. The Feds stated that they were taking a pause in raising interest rates because “Economic growth has moderated from its quite strong pace earlier this year”.
You would have thought that Wall Street would have jumped for joy and the market would have strengthened and taken off. But the fact is that Wall Street started to take a dive on all fronts as soon as the word reached them. Analysts stated that investors were worried about inflation, especially in the face on another eminent spike in crude oil and gas prices because of the shut down of oil facilities in Alaska for repair.
Why all this on a realtor marketing blog. The news means that there will be window of opportunity for a short time with a stable interest rate inside. It’s like finding a crack in the sidewalk. The rising interest rates has been plaguing real estate agents, sellers, and buyers. They have flattened a bubbling real estate market and threatened to burst the bubble.
Now, real estate agents have this opportunity to market themselves to buyers and sellers using a steady interest rate as the ploy and that this is the time to take advantage of the short-term rate before it goes up. After all, everyone knows that it will most likely climb again to fight the inflation that is seen as a black cloud on the horizon.
Realtors can use this news to their advantage. Start thinking of ways to use this news in your realtor marketing plan and advertisements. If you take advantage of the current system right now, you might come out ahead in this slumping real estate market.
Posted: August 8th, 2006 under Real Estate Rambles.
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