Never Been a Better Time to Buy

The Fed just announced another 3/4% cut to the Central Bank Rate making it now 6 cuts in 6 months. They are doing this to stimulate financial markets but already announcements have been made by commercial banks that their lending rates will fall to just above 5%. This will in-turn mean that you can take advantage of this incredible time as a buyer. Right now, there is oversupply in the housing market which means there are deals to be had. If you couple that with the fact that the lending rate is so low this translates to being able to afford more home for your hard-earned dollar. If you are considering building a home- even better. When you build a home, you should end the process with a certain amount of equity. The economics are simple when you start thinking about leveraging dollars at a reduced amount from the bank, having instant equity and being in a buyer's market. This market should recover and when it does expect rates to go tick back up.