The Fed announced its second consecutive rate decrease Wednesday, October 31, 2007. The Fed Funds Rate was cut another 0.25%, lowering it to 4.5%. This was done in an effort to stimulate economic activity and make it cheaper for consumers and businesses to borrow money.

Fed policymakers explained their actions stating that “the upside risks to inflation roughly balance the downside risks to growth.” By saying this, the Fed is most likely signaling that further rate cuts will not be necessary.

With housing prices lower than they have been in years and rates in all probability at their lowest, the market seems to be at or near the bottom. Therefore, now is the time to act! With the right REALTOR® by your side, you can have incredible negotiating power in a buyers' market!

You can search for some great real estate opportunities at my Myrtle Beach Real Estate website. Just click the search Myrtle Beach MLS link.