Interest Rates Hit New 49 Week Low

It’s a big old goofy world indeed

Go figure. Four straight $10 billion dollar cuts. Monthly stimulus designed to lower interest rates slashed from $85 billion dollars each month to $45 billion dollars. The program designed to keep interest rates artificially low to spur the economy to new heights. The program is scheduled to end completely this year but so far interest rates do not see the need to go anywhere but the opposite direction that one would expect.

Interest Rates

No doubt when the stimulus began interest rates went down to all time historic lows and stayed down at funny money rates. Luckily for borrowers we still enjoy those funny money rates. Last year when the Fed “warned” that cuts in the program were possible, rates jumped a full point but now that the cuts are here rates continue to drop. In fact they are down about 10% from the first of the year when the first cuts came. And with each cut so far further drops in interest rates. This morning the average overnight rate on a conforming 30 year fixed note are down to 4.13%. The lowest level we have enjoyed since May 16th of last year. Go figure. If you need a recommendation of a well qualified lender please give us a call as we have some of the best in the business standing by to help you in any way that they can. Who knows how long the funny money will be here to enjoy. Always interesting, always fun.

Fins up…….

Tom Priester
Principal Broker

Paradise Sharks Real Estate
Direct Line 561 308-0175
tom@tompriester.com

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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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