The Federal Reserve Board meets March 14th to review the state of the economy and analyze the Federal debt. The T-bill has gone up to 2.51%. It is predictable that the bank rates will rise which in turn increases the mortgage rates. The real estate market has been on a slow upswing but now with the new administration policy changes, the market has become shakey. In 1990, the mortage rates came down from the two digit rates to 9.5% after over 10 years of double digit rates, whereas currently the rates are a low 4.25% which to the baby boomers is fantastic.
Great thing about residential housing is “Everyone needs a place to live.” Now the decision is rent or buy, yet someone still has to own the property. Real estate will always be a good investment for someone.