Mr. Bernanke testified before the Senate this morning and said, "we must take account of the possible future effects of previous actions--that is, of policy effects still in the pipeline. The extent and timing of any additional firming that may be needed to address inflation risks will depend on the evolution of the outlook of both inflation and economic growth."
So... he makes this statement right on the heels of a report that showed that housing starts slowed a staggering 5% in June indicating that the economy really is slowing down. That's not a bad thing, friends... it means the need for continued rate hikes may well be over. Now all you buyers who were concerned (unnecessarily) about increasing rates can start shopping again.
Happy House Hunting!
ABOUT THE BLOG OWNER
TIMOTHY H. FENNELL, PA
Tim Fennell is a Florida licensed Real Estate Broker with Legends Land and Realty, Inc. in Jacksonville, Florida.
His strong background in business development, real estate investments, counseling and marketing greatly enhance his skills as a Listing and Internet Marketing Specialist.
Tim and his wife, Susan, have over 30 years experience in Jacksonville Real Estate sales, marketing and investing. Both are Accredited Consultants in Real Estate (ACRE®). When you're ready to be consulted with, rather than sold to, give Tim and Susan Fennell a call.
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