As widely expected the fed lowered the rate .5% with banks following suit. Hopfully this means fewer families facing foreclosure from skyrocketing payments can take their houses off the market and ease the inventory glut. Since they went with the bigger cut it should send the signal that now is the time to get off the fence, it probably won't go lower. Of course that depends on the reaction to the general economy. I'm troubled by the $80+ a barrel for oil. Outside of greed and a lackluster stock market there isn't any reason why it can't be at the $60. point. That will fuel inflation and prompt a rate hike by the fed and we'll be back in the same mess again.

     It's time for the monthly post. What a month it's been too. BIG pending sale on an oceanfront property for starters and an exciting new partnership with ISI Mortgage Co. in New Smyrna Beach working with the Volusia Co. SHIP down payment assistance program. This enables middle to low income working singles or families to share in the benefits of home ownership by granting $30,400. to $40,000. in down payment assistance. On a $150,000. home the minimum would be 20% of the purchase price. That means a conventional fixed rate, 30 year loan without mortgage insurance! Not only does this help out the buyer but a seller can sell, an inspector can inspect, and yours truly can make a commission as well. And of course all the others who are part of the transaction will be working too. Truly a win - win situation.