The Federal Reserve is the organization that is responsible for things like the nation-wide standard interest rates on loans and lines of credit. Due to our national deficit, the Fed has been considering raising our interest rates to try to reduce our national debt. They've been considering this for quite some time. Our national deficit was made even more substantial during the recession when consumer spending was at a low. The Fed was hesitant to increase these rates because they were afraid it would slow down consumption and slow down recovery. Now that the economy seems to be turned around, they are once again considering increasing our rates. If they do so, this blog post discusses some of the ways that Americans will be affected. Remember me if you're interested in buying or selling residential, commercial or investment properties in Charleston, SC!
There are many types of loan products out there for purchasing homes. The most widely loan used to purchase residential real estate in the conventional loan, which is a loan provided by a for-profit lending institution. While this is the most popular loan product on the market, many people have a hard time qualifying for these loans because these banks have more stringent lending criteria than many other organizations that provide loans. Fortunately for them, there are Government sponsored organizations that provide loan which are much easier to qualify for. These loans include FHA's, FNMA loans and Freddie Mac loans. These loans usually have lower credit requirements, lower income requirements and more flexible debt-to-income requirements. This post discusses some of the perks of these loans and how they're making home-ownership easier for the average American. Remember me if you're interested in buying or selling residential, commercial or investment real estate in Charleston, SC!