Tuesday, October 23, 2012

Low Interest Rates Not Enticing New Home Buyers

An alert reader sent me this article about the effect that Obama's super low interest rate is having on the typical American new home shopper. Not what you would expect.

I really thought this would help...
The Federal Reserve's latest declaration to keep interest rates shockingly low until 2015 has not galvanized the populace into borrowing truckloads of money. In fact, most consumers say the Fed's announcement does little to make them more inclined to borrow money, according to Bankrate's October Financial Security Index.

Just 23 percent of consumers say they are tempted to take on more debt, but 74 percent say "no thanks" to low-rate borrowing right now, Bankrate's survey reveals.

Read the entire article...CLICK HERE

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