Now that S&P has downgraded the United States from a AAA to AA+, there will be ramifications for all of us. For now cash is king so you will want to start using cash instead of credit wherever possible.
Interest rates are sure to go up for home and credit card purchases. If you are currently in the process of looking for a home, I would try to lock in a rate with your lender ASAP, especially if you just put a house under contract but have not locked in yet. Timing is critical now and the window is small if you want to benefit from the historically low interest rate environment we have enjoyed for the past decade. The party is over for now !
Of course, you may always consult with me if you have any questions concerning the real estate market. We are here to serve you !
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