Keeping mortgage rates down is the Feds' latest plan to help economic growth by implementing QE3 and buying mortgage-backed securities. With unemployment remaining stubbornly high in the US, though the economy has been recovering, the Feds hopes that its latest moves will stimulate the housing market and encourage consumers to buy properties and help the economy move forward.
As with any work on stimulating sectors of the economy, the proof of the pudding is in the eating. It is certainly possible that stimulation of the housing industry will increase the need for workers in that industry and thus be a contributing factor to lowering unemployment.
Mortgage rates are generally staying steady, and QE3 may well lead to mortgage rates remaining low for a few years. As ever, this will depend on how the economy performs as a whole.
For buyers interested in investment property, this may still be a good time to source strong possibilities on the market and research what the home investment potential in various states is. The US is always going to be an attractive market for overseas buyers, with states that are major vacation draws always likely to provide the possibility of good investment returns.
Property for sale in Seaboard states, such as Florida and California, will always have a good take up with renters, either for those that work in the vacation businesses such as theme parks and restaurants and who are in need of seasonal accommodation, or for vacationers themselves.
