The Federal Reserve Board have lowered rates again! The new target range for rates is now between a historic 0% and 0.25%.

The National Association of Realtors has praised the moved by the Federal Reserve Board to lower interest rates further to a near record breaking level. In the third quarter of this year mortgage rates had averaged 6.3% but have now fallen to around 4% in some parts of the United States – this means that te rates really are some of the best rates that have been seen for decades! The American people would have to travel back 50 years to see rates this low!

All in all it really means that those who are thinking about purchasing a new home, including first time buyers and investors, if they choose a low fixed rate loan, combined with the great selection of property available on the market , they are getting the best deal in years! Also, the cuts, asides from giving the economy and the housing market a much needed shot in the arm are expected to create an increase of homeowners refinancing.

If you are looking to purchase a property in New Albany Ohio or the surrounding area in Central Ohio such as Gahanna, Plain Township or New Albany itself, then please contact The Raines Group for professional Real Estate advice in the region. The Raines Group are more than happy to assist you in your real estate needs. Contact them today via their online contact form or by calling Sandy Raines on: 614-418-7417

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