Here it comes…
Just published in the NYTimes today:
Fed Raises Interest Rate That It Charges Banks http://www.nytimes.com/2010/02/19/business/19fed.html?hp
When the Fed raises rates, mortgage interest rates should follow them up. This means that right now buyers will find the best home loan rates they are likely to expect for a new home purchase, after this money will be more expensive to finance. The window for the best buyer’s market in history has just started to close. If you know anyone on the fence about buying right now, there’s no more time to waste.
The good news is that we will need interest rates to rise and a little inflation to return before we will see prices rise again, so this may also be a sign of the beginning of a more broad based recovery for our economy.