FED SURPRISES! MARKETS REJOICE. BUT WHAT'S NEXT?

Surprisingly, some good news trickled out of the financial markerts in the form of the Fed surprising us with a 75 bps rate cut (the street expected 50 bps max). This now puts us at the lowest level in the nation's 232 year history. Wall Street surged nearly 360 points after central bank said it would us "all available tools" to jump start the economy. These include buying mortgage debt from banks to provide them with extra cash and reduce long-term interest rates. This should definitely lower the cost of borrowing for investments and housing, which then brings the unemployed back into the labor market and makes housing affordable. The average 30 year fixed mortgage rate is now 5.19% compare to highest last October to November at 6.5%. Now is a really good time to take advantage of the histortically low interest rates and an extremely opportunistic real estate market. To search for real estate for sale in the Westside of Los Angeles visit Westside Properties. Click here to obtain a free, confidential and 100% secure loan pre-approval in minutes.