The FED Drops Trou Today---This Will Save You Money...

[Scott Miller]

If you are thinking about purchasing or refinancing a commercial property.

In an unprecedented move, the FED cut its core indexes in a intra-meeting by 75 basis points (3/4 of a point or .75%---the last time the govie did this was after 9/11).

What does this mean to commercial property owners?

Plenty, particularly when you consider alot of banks peg their rates to the prime rate.

So with one day rate drop from 7.25% to 6.50%, what should you do?

WAIT!

The FED is meeting again next week, at which time there might be another downward movement---if this doesn't come to fruition, it's time to "lock and load" (particularly if you got a commercial mortgage in the last 12-18 months).

I'll be monitoring the commercial markets intensely in the upcoming days and will avail myself to anyone that needs guidance on this matter.

Regards,

Scott Miller