The Dallas, Fort Worth real estate market has not been hurt as badly as some areas of the United States, however, even our market is not as strong as it was in recent years. This made the news from the Fed welcome relief for many people trying to sell their homes.
The Federal Reserve's aggressive half-point cut today (Sept. 18, 2007) could provide support for a slumping housing market. Mortgage rates may have a little more room to fall, giving support to prices. The Fed Funds rate affects a range of consumer loans, including home equity and mortgages. Lower mortgage rates would add to the number of home buyers able to afford to make purchases, increasing demand for properties and buoying home prices. Buyers generally care less about the actual purchase price than they do about the size of their payments.
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