Great Time To Buy!

As most of you have probably already heard the Fed's did a surprise rate cut on Tuesday. The Feds cut the Federal Funds Rate by .75% lowering it to 3.5%. In addition to cutting the Federal Funds Rate, the Fed also cut the discount rate, the rate member banks can borrow directly from the Federal Reserve to 4%. This move should provide further stimulus to the credit markets. If you were thinking of purchasing a new home the rates are now working for you. It is definately a good time to buy. I spoke with my lender this morning and there are several programs out there available that make buying (and keeping) a home a reality.