Interest rates appear to be staying put until the US economy gets back on track and stays there. This past week Ben Bernanke, chairman of the Federal Reserve, announced his desire to keep interest rates low due to the fragility of the economy. Unemployment figures are continuing to rise. These increasing unemployment figures are interfering with recovery and affecting real estate and general sales figures across the Country.

Historically low interest rates and low home values combined with the extended and expanded First Time Home Buyer Tax Credit, have been instrumental in boosting real estate sales in the United States. These incentives are bringing buyers off of the sidelines and have created a true “buyer’s market”.

Real estate is typically a catalyst for for economic recovery and keeping mortgage rates low will be a significant help in keeping the sales coming.

Click here to see a recent article about Ben Bernanke and his commitment to keeping interest rates low.

 

 

Contributed by Mario Romero, CRS, CDPE, CLHMS
602-252-4191 office, 602-254-9810 fax
The Romero Team - Melcher Agency
www.TheRomeroTeam.com
www.ShortSaleTeamAz.com
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