Approved! Kankakee Valley School Corp which is the school corp for Wheatfield and Demotte, Indiana in Jasper County is getting a new middle school. The two townships came together and voted on January 13th to build a new middle school for the fast growing community.
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So we are so excited about the feds possibly lowering interest rates again, well here is the other side of the story that we don’t see.
Posted by: Scott Swinford, Mortgage Planner & Credit Expert In: Real Estate Finance| credit| refinance
It seems that almost everyone is getting excited about the Fed cutting the Funds rate. “That must make money cheaper to borrow, so interest rates will go down”, they seem to be saying.
In fact, rates on 30 year fixed mortgages are as low as I have every seen them.
“This must be a positive sign?” or “This will surely stimulate the stagnant real estate market which many seen to blame for this mess!”
Not so fast…
Enter our enemy “Deflation”.
See, we are used to financing things and feeling fairly secure that the dollars we pay them back with will be less valuable later on. For instance, a $300 mortgage payment was a lot in 1960, but seemed very small when you made that last payment in 1990.
What if prices declined and the dollar was now worth more? People would hold off making purchases thinking the products would be cheaper… sort of like waiting to refinance until the rates drop a “little more”. This could potentially cause orders of goods to decrease, factories to shut down, unemployment to increase and ……. read the rest of the story
Gina Bombin, Wheatfield, Indiana Real Estate, Jasper County Real Estate, NWI Real Estate
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