Interest Rate Cut?

A sluggish economy and a spike in foreclosures suggest an interest-rate cut is in order, but a weak currency and creeping inflation suggest a rate hike is in order (rate increases make a currency more attractive vis-à-vis other currencies). What is the Federal Reserve to do?

Clues will be forthcoming in the Fed's Beige Book, to be released on Wednesday. It will likely prove that the Fed's greater concern is inflation, but that could easily change if Friday's consumer price index shows consumer prices rising at an intolerable rate.

Either way, borrowers can expect a spike in rate volatility. Gaming interest rates – an already difficult endeavor – will become that much more difficult in coming weeks. Bankrate.com's survey showed that mortgage rates increased across the board through most of last week, but the survey was released before Friday's employment report, which could just as easily drop rates this week.

So what's the longer-term rate trend that's likely to emerge? Unfortunately, it's impossible to tell at this point because of the schizophrenia of recent economic data releases.

Eric P. Egeland
RE/MAX United
847.337.7090
DeerfieldsAgent.com

Deerfield Realty Market Activity

May 27-June 6th


Single Family Homes

New Listings
630 Elm ST Deerfield 3 Beds 2 Baths $274,900
737 DEERPATH DR Deerfield 2 Beds 1 Baths $384,900
1146 Deerfield RD Deerfield 3 Beds 2 Baths $389,900
525 Longfellow AVE Deerfield 3 Beds 2 Baths $439,000
110 Plumtree RD Deerfield 3 Beds 2.1 Baths $465,000
855 Fair Oaks AVE Deerfield 3 Beds 3.1 Baths $468,000
863 Todd CT Deerfield 4 Beds 2.1 Baths $549,000
730 Carriage WAY Deerfield 4 Beds 2.1 Baths $759,900
15 Standish DR Deerfield 4 Beds 2.1 Baths $799,500
845 King Richards CT Deerfield 4 Beds 3.2 Baths $849,900
1215 HACKBERRY RD Deerfield 4 Beds 3.1 Baths $1,149,000
400 Cumnor CT Deerfield 5 Beds 4.2 Baths $1,599,000
605 WESTGATE RD Deerfield 5 Beds 4.2 Baths $1,850,000

Under Contract
813 JUNEWAY AVE Deerfield 4 Beds 2 Baths $230,900
905 Warrington RD Deerfield 3 Beds 1.1 Baths $499,000
312 Birchwood AVE Deerfield 4 Beds 4.1 Baths $999,000
1064 GREENTREE AVE Deerfield 5 Beds 5 Baths $1,099,000
1250 Linden AVE Deerfield 4 Beds 3.1 Baths $1,250,000

Price Changes
730 Pine ST Deerfield 3 Beds 1.1 Baths $329,900 $309,900
859 Central AVE Deerfield 2 Beds 1 Baths $324,900 $319,000
539 MALLARD LN Deerfield 3 Beds 2 Baths $379,900 $349,900
946 Clay CT Deerfield 3 Beds 1.1 Baths $419,900 $419,500
413 Locust PL Deerfield 4 Beds 2.1 Baths $475,000 $450,000
1232 Wincanton DR Deerfield 3 Beds 2.1 Baths $470,000 $469,000
925 CASTLEWOOD LN Deerfield 4 Beds 2.1 Baths $518,900 $499,800
1542 Woodbine CT Deerfield 2 Beds 1.1 Baths $665,000 $647,500
1000 North AVE Deerfield 4 Beds 2.1 Baths $699,000 $659,900
1436 DEERFIELD RD Deerfield 5 Beds 4 Baths $669,000 $669,999
601 Carlisle AVE Deerfield 5 Beds 3.1 Baths $739,900 $698,000
755 WESTGATE RD Deerfield 4 Beds 3.1 Baths $799,000 $749,000
962 CENTRAL AVE Deerfield 5 Beds 3.1 Baths $959,000 $949,000
195 River ST Deerfield 5 Beds 4.1 Baths $1,100,000 $1,130,000
1224 KENTON RD Deerfield 4 Beds 3.1 Baths $1,299,000 $1,279,000
1327 Somerset ST Deerfield 5 Beds 4.1 Baths $1,295,000 $1,290,000
417 Hermitage DR Deerfield 5 Beds 4.3 Baths $1,649,000 $1,599,000

Closed
l20901 Catalpa ST Deerfield 3 Beds 2 Baths $359,900 closed for $341,500
821 WOODWARD AVE Deerfield 5 Beds 3 Baths $459,900 closed for $440,000
667 CARRIAGE WAY Deerfield 4 Beds 2.1 Baths $539,900 closed for $545,000
1112 N OSTERMAN AVE Deerfield 3 Beds 2.1 Baths $599,900 closed for $595,000
1133 Elmwood Deerfield 4 Beds 4.1 Baths $1,049,900 closed for $954,000
1156 CHERRY ST Deerfield 5 Beds 4.1 Baths $1,399,000 closed for $1,230,000


Attached Homes

New Listings
232 Inverrary Unit D Deerfield 3 Beds 1 Baths $158,900
1015 Deerfield Unit 232 Deerfield 2 Beds 2 Baths $180,000
1260 Inverrary Unit 1260 Deerfield 2 Beds 1.1 Baths $219,000
864 INVERRARY Unit 864 Deerfield 3 Beds 1.1 Baths $219,900
610 Robert York Unit 110 Deerfield 2 Beds 2 Baths $279,900
640 Robert York Unit 305 Deerfield 2 Beds 2 Baths $330,000
859 Bluebird Unit 0 Deerfield 3 Beds 2.1 Baths $334,900
610 ROBERT YORK Unit 302 Deerfield 2 Beds 2 Baths $419,000
816 Chestnut Unit B Deerfield 2 Beds 2.1 Baths $425,000

Under Contract
410 INVERRARY Unit 410 Deerfield 3 Beds 1.1 Baths $180,000
1050 INVERRARY Unit 0 Deerfield 3 Beds 1.1 Baths $185,900
402 Kelburn Unit 325 Deerfield 2 Beds 2 Baths $267,500

Price Changes
1171 Deerfield Unit 1171 Deerfield 2 Beds 1.1 Baths $229,000 changed to $219,000
738 GROUSE Unit 7387 Deerfield 2 Beds 2.1 Baths $250,000 changed to $244,900
410 Hummingbird Unit 410 Deerfield 3 Beds 2.1 Baths $289,900 changed to $275,000
439 Swan Unit 439 Deerfield 3 Beds 2.1 Baths $299,000 changed to $289,000
520 SOUTH COMMONS Unit - Deerfield 3 Beds 2 Baths $384,900 changed to $374,900
731 CENTRAL Unit 0 Deerfield 2 Beds 2.1 Baths $649,900 changed to $629,000

Closed
699 MALLARD LN - Deerfield 4 Beds 2.1 Baths $356,900 closed for $330,000


Eric P. Egeland
Re/Max United
847.337.7090
DeerfieldsAgent.com