So, the Bill was passed and nothing much happened with the stock market or the interest rates. Banks and Wall Street need to sit back and figure out what they are going to do for themselves. This will take some time.  Perhaps a few weeks until the market knows how to work it.

 

Remember, just because the Fed has a plan does not mean the lenders have to follow it.  That is what happened before with the new FNMA loan limits, etc.  The banks hated it and it just never worked with for the borrowers. Sad, but true.  The predictions are that it will not work and the economy will continue to falter.  We can only hope that mortgage rates stay around the same range which is the low 6%.

 

My thoughts:  we are in for some tough times. If you do not need to sell or buy a home now, then wait.  If oyu do, you should be just fine…….may next week be a better one for all.

Dale Robyn Siegel