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Fed interest rates and buying a home

Friday, 07 August 2009

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Fed-funds futures indicate that the Fed may raise rates at least 25 basis points by year end and up by 75 basis points by next spring. If the rates do rise, that will push mortgage rates higher also. A quick check today on a conventional (loan amount under $417,000) 30-year fixed loan is available at a rate of 5.625% with 1.0% point. The APR is 5.726%. These rates do move quite a bit, from day to day, and the price last week was 5.2%.

First time home buyers can qualify for a Homebuyer Credit and that credit will expire by year end. Home prices are beginning to rise and many areas have already stabilized. If you are looking to buy a home, this may be the opportune time.

Real estate has always been seen as a hedge against rising inflation. With inflation expected to be rising in 2010 to 2012, this also points to a good reason to buy a home.

About the author

Sandra Field, MBA, CFP®

Sandra Field, founder, of Asset Planning Inc. (API), is a Certified Financial Planner and has been an active professional in the financial services industry for over 23 years. She is recently named as one of nation's leading wealth mangers by Bloomberg "Wealth Manager" magazine.

A Southern California native, Sandra graduated from California State University Long Beach with a Bachelor of Science in Finance and from University of Southern California with a Masters in Business Administration.

Sandra is a member of NAPFA (National Association of Personal Financial Advisors) and the Financial Planning Association. Sandra has served on the board of directors for the Orange County Chapter of FPA. Well respected in the industry, she is a featured financial advisor for the LA Times "Money Makeovers" as well as for the "One On One" column in the Orange County Register. In addition, Sandra serves on the Mutual Fund Panel of Experts for the Orange County Register Newspaper. She is also an active member of the community, serving as past President of the Seal Beach Chamber of Commerce, past Vice President of Finance on the Board of Directors for the American Cancer Society, and past Business Advisor to the City of Seal Beach.

Last but not least, she is a featured speaker at many public and private functions such as AAII (American Association of Individual Investors), Cal State Univ. Long Beach, EWGA and USC. She recently spoke at the WISE (Women In Securities & Education) conference, conducting a live money makeover before 400 women.

Whether she is assisting clients to reach their retirement goals or selecting the right investments for clients, education is at the core of Sandra's philosophy. She emphasizes the importance of developing a relationship with and educating clients, placing the utmost importance on helping them reach their goals, whatever they may be.

Asset Planning, Inc Blog

Fed interest rates and buying a home

About the author

Sandra Field, MBA, CFP®

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