Once Again Interest Rates Move Lower

For the 4th straight week rates drop

Interest Rates

The recent moves in interest rates are truly a conundrum as ever since the Fed started the 10 billion dollar monthly pullback in their bond purchases rates have dropped. Like clockwork each week since the first of the year rates have dipped lower each and every week.

This morning the average overnight rate on a 30 year fixed rate as reported by Bankrate sits at 4.38% down another 4 basis points from last week and at the lowest rate we have seen since December 1st of last year.

However, all signs point to this being a trend that cannot continue. The big news to watch for this week is the release of the Fed’s post meeting minutes slated for Wednesday afternoon. it is widely speculated that they are ready to announce a 2nd phase of tapering their bond purchases which should move rates higher. But then again so should have the initial taper during which rates have dropped 18 basis points from 4.56%.

But they will also be dealing with the biggest weekly drop in the stock market that we have seen in a very long time with fierce selling in some emerging markets so you just never know.

Always interesting, always fun.

Fins up……………..

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Published by

Tom Priester

After spending years among the top individual performers at one of Palm Beach County’s largest and most successful real estate brokerages, Tom Priester knew there was another way to do real estate. A better way. Real estate services focused on the customer. Like the old days when the customer truly was #1. He tired of listening to why he should be going out to have his customers sign one sided buyers’ brokerage agreements. He tired of hearing how he should be selling customers why paying higher commissions, like 7% and 8%, was to their benefit. He tired of hearing how he should sell his clients on why they should be paying hundreds of dollars in additional “transaction fees”. The business had slid way too far from being focused on the customer. His customer. So he decided the time was right to be different…..by design. To start his own unique boutique real estate firm truly focused on his customers. They will now have access to a process focused on them. Only the best marketing techniques to sell their homes. No cutting corners. Commission structures based on his clients needs not his. Paradise Sharks was born out of Tom’s passion to return this business to the customer. Where it belongs. If you want a real estate experience that benefits you, just give Tom a call at 561 308-0175 or send him an e-mail at tom@paradisesharks.com. You can always pay more and receive less but that just would not make any sense. Would it?

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