The Associated Press reported that the Federal Reserve policymakers are debating when and how they are going to tell the public that the low interest rates cannot continue indefinitely. Once the economy starts recovering, higher rates will be necessary in order to avert inflation.
The central bank will want to signal a shift in advance and in clear terms in order to ease borrowers and investors into the new era. That change in language is possible at the March 16 meeting of Fed officials but may not come until the next session in late April.
If you are thinking of purchasing a home, and I know we keep repeating this, there is no better time than the present! With interest rates historically low and prices really low, and tax credits still available if you are "in contract" by April 30th and close by June 30th still available. This is a gift right now and we all love presents!
We will always keep you posted!
