Steady interest rate policy aides borrowers with construction loans and floating-rate debt
Chicago, IL -- (ReleaseWire) -- 08/10/2006 --Yesterday's Fed announcement to hold rates at bay is a sigh of relief for borrowers punished by 17 rate hikes over the past two years.
Real estate capital markets reacted with relative calm. Mortgage interest rates remained unchanged in the past couple of days, as treasury notes trade within the high 4% range. On the other end of the spectrum, 30-day LIBOR, a common floating rate index, dropped by four basis points - one of the largest decreases for this year.
Nat Zvislo, the Real Estate Capital Institute's research director , notes "no news is good news in this case."
For more current daily marketinformation please visit the Institute's web site (www.reci.com) or hourly updates throughout each trading day are available at 773-227-4825 (The Real Estate Capital Rateline).