Fed Acts in the Nick of Time; Slump is the Perfect Time For On-Site Builders To Buy In-plant, Off-Site

摘要

Although they waited almost too long, the Federal Reserve Board finally came to their senses and lowered the interest rate on Federal funds a full 1/2 point--despite what most pundits believed was only going to be 1/4 point cut. The reaction across the nation was immediate and thankful and not a moment too soon. The Fed cut meant that home mortgage loans would follow the prime and be much less costly to obtain and adjustable rate mortgages would dip as well. August foreclosure filings had jumped 36% compared to July and an astonishing 243,947 foreclosure filings were reported in August, up from 113,300 in the same month a year ago. Some experts are predicting close to two million home foreclosures by the end of this year.