Fed rates same, so what does it mean?

The Fed (Federal Reserve) has kept rates the same in their latest meeting. No up, no down…so what does this mean for you and me? Well, since they at least hinted that they might raise rates again at their next meeting, then the obvious action to take is do your purchasing or refinancing now, not later! Remember, because of where interest rates are currently, you have less competition for that home you are dreaming about. Less competition means you might get seller concessions for closing costs, or maybe a lower purchase price…or maybe…BOTH! This of course only applies to the folks that have to do something now. Over the long run, I think we will see lower rates. The ones who buy now, can take advantage of a refinance if this scenario proves out. At any rate, “rates” are what they are for now! If you want to discuss how all this might affect your current situation, then call Michael E. Mitchell at Mitchell Mortgage today and use my cell phone of 707-337-5970. Good luck!