Uncertainty seems to be the word on everyone’s lips when it comes to the economy and the real estate market lately. Buyers are dancing around mortgage rates hoping they’ll drop, while sellers are holding off for a better market or lower prices if they need to move now.
On September 18, the Federal Reserve moved to lower the cost of borrowing money by a half percentage point. This was a much larger drop than anticipated (most experts were predicting a quarter of a percentage point).