Wednesday, December 12, 2007

Fed cuts rate 1/4 pt

The Federal Reserve cut benchmark U.S. interest rates by a modest quarter-percentage point on Tuesday. Many economists were expecting a 50 basis point cut. The central bank's decision takes the federal funds rate, which governs overnight lending between banks, down to 4.25 percent. Wall Street was disappointed with the modest cut, but is is still a move that should help mortgage rates.

Now on to the Deerfield Realty market for December 11th 2007

Single Family Homes
-1 New listing at 1248 Hackberry. It is a 4bed 2.5bath home listed for $489,000
-23442 Wildwood was reduced from $1,269,900 to $1,239,900
-151 Willow a 4bed 3.5bath home closed for $920,000

Attached Homes
-No new listings
-1 $50 price reduction not worth mentioning
-No Closings

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