Things are continuing to look positive for the economy and the housing market this week. The Federal Reserve announced yesterday a $1.2 trillion effort to lower rates on mortgages and other consumer debt, spur spending and revive the economy. The Federal Reserve also decided to leave a key short-term bank lending rate at a record low which should positively affect mortgage rates.
In addition, consumer prices rose in February which is a good signal of a healthy economy. Falling prices may sound good to consumers, but can actually make a recession even worse by dragging down wages, home and stock prices.
With the economy showing signs of stability, mortgage rates at record lows and prices starting to inch up, could there be a better time to buy land?