Bargain Basement Rates and the Economic Meltdown

It’s amazing how much power I have. Actually I don’t have much of any, but the real estate market has a great deal of power. I guess the government is finally getting hip to the idea that if the housing crisis caused this enormous mess, then they might be able to get us out of it. While rates are already at about 5.3% which is ridiculously and historically and monumentally low,  I heard a story this morning on NPR about the Treasury Department considering lowering them even more to about 4.5%. I can’t even fathom that. If that happens, I should be so busy that I can’t see straight. Hopefully this rate drop will be accompanied by a big marketing blitz to let people know because right now nobody knows they are in the low 5’s even though it should be big news. The only thing we hear about is doom and gloom. Anyway, I hope they do this. I think it would get our economy moving again, just as long as they don’t get back into the sub-prime lending and zero money down madness as before.

About the Author

Sarah Snodgrass is a residential real estate agent specializing in Kansas City's historic neighborhoods and enclaves.

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