Effective 10/29/08 the Prime Rate has again been lowered to
4.00%, down a
1 per cent. The last time Prime Rate was this low was on
11/1/08 the Federal funds Rate has once again been lower to
1.00%, down another 1 per
cent. Federal Funds Rate started this year at 4.25%.
It appears the home market for lower priced homes (under 400K) has not hit
bottom. The bottom could be months away. Quality mansions are in strong demand.
Mansion open house... On
2/14/09 my staff and I will be holding an open
house of a luxury mansion in the north Scottsdale area.
for details of this
open house and future mansion open houses throughout Arizona.