Mortgage interest rates are likely to increase soon, but not now, per minutes of Federal Reserve meeting


Mortgage interest rates are likely to increase soon, but not now, per minutes of Federal Reserve meeting
By Scott Rogers • August 20, 2015
Over the past three years (shown above) interest rates have fallen into three categories.... LOW: 4.5% - 5.0% SUPER LOW: 4.0% - 4.5% ABSURDLY LOW: 3.0% - 4.0% As you can see above, interest rates have spent the most time in the ABSURDLY LOW category over the past years -- and apparently interest rates will be going up "soon, but not now" per a Washington Post article about the recent Federal Reserve meeting.... The Federal Reserve made few waves when its top brass met in Washington last month for their regular policy-setting meeting. Its target interest rate — pegged at zero since the financial crisis — remained unchanged, and the central bank's official statement offered few clues of when it might rise. But the minutes of the July meeting, released Wednesday afternoon, show that Fed officials were busy making preparations behind the scenes as they inched closer to increasing the benchmark rate for the first time in nearly a decade. Many economists and investors think the Fed could move at its meeting next month. The minutes made clear that officials needed more data before deciding — but also that they wanted to ensure everything was ready to go if they did. Read more in the full Washington Post article, This is how the Federal Reserve is preparing to raise interest rates. Receive Updates by Email Recent Articles: There Are Plenty Of Types Of Houses That Exist That Just Are Not Available To Purchase Home Sales By Price Range In The City Of Harrisonburg Are You Compromising On Aspects Of Your Next Home That You Can Or Cannot Change Later? How Much Slower Are The Winter Months In Our Local Housing Market? Rockingham County and New Home Sales Drive Surge in Area Housing Market Find The Balance Between Optimistic And Realistic Home Pricing Room Size Is Difficult To Understand Solely From Real Estate Photos How Much Would You Value Not Having To Prepare Your Home For Showings? One Out Of Four Homes Is Taking Longer Than A Month To Sell Consider The Cost Of Your Planned Renovations When Planning Your Offer
Have any questions? Contact Scott Rogers at 540-578-0102 or scott@funkhousergroup.com
Based on information from the Harrisonburg-Rockingham Association of REALTORS® or its MLS, for the period Jan 1, 2000 through Nov 22, 2024 (unless otherwise noted).
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