With all the financial news lately, I decided that a quick recap would be a good idea….

Rates continue to fluctuate.  The “bail out” of Bear Stearns has been received with mixed reactions by the financial community and there is some question on the final terms of the agreement.  Meanwhile…back at the ranch….the fed lowered the consumer rate again to 5.25%.  At the same time, Unemployment news came out today with numbers  showing more of an increase than expected which brought home loan rates down roughly .25 at weeks end.  The big “R” word for recession keeps being floated among economists. 

What does this mean for you?  Lower rates on your Home Equity Line of Credit which is nice.  The other types of loans do not seem to be reaping the benefit of the lower rates although even those rates are still good.  Less, in the way of loan programs and increasing foreclosures, still continues to force a glut of unsold homes on the market.  If you are looking to buy and can qualify, now is the time for a great deal.  If you need to refinance, value is the key and if it is there, now is the time also for a great rate.  Selling might be hard but with a good real estate agent, you have the best shot. 

As more news comes in, we will post more updates!!  Stay tuned…..

What all of these means for you is that for