I think that its great that congress has been working so hard to get these measures passed (click on title.) The tax incentives to buy property are going to bring more buyers out of the woodwork and the re-structuring of bad loans headed into foreclosure will help keep these properties from saturating the market. I can't wait to start seeing the effects of this and hopefully this will mean that we will start heading more upstream in the housing industry.
Saturday
Housing Bill awaits Predident Bush
Friday
Rates go Up
Interest rates have now gone up to 6.68 percent on 30 year fixed loans and up to 6.18on 15 year fixed loans. The Fed is obviously getting very cautious about flirting with a rise in inflation. Hopefully some of this mess will start to balance itself out because the last thing we want is less and less people being able to qualify for a loan because of a over correction in the terms one must pass to qualify with underwriting.
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