Tick Tock....
Here's what THE FED SAID:
In view of realized and expected labor market conditions and inflation, the Committee decided to raise the target range for the federal funds rate to 1-1/2 to 1-3/4 percent. The stance of monetary policy remains accomodative, thereby supporting strong labor market conditions and a sustained return to 2 percent inflation.
Translation: The Fed is anticipating continued moderate Rates that it provides when lending Money to Banks.
This is the 6th ?% increase the Fed has made over the past few years. But rates are still very low. To put it in perspective – I’ve added a graph (free of charge to you) showing where the Fed Funds Rate has been since the early 1970’s. Still super, super low.
Here's a Picture of Long Term Fed Rates
Translation for Real Estate Business and Home Buyers:
The Market Digested the Information...Decided that it expressed "Steady as We Go"...we moved forward LARGELY UNCHANGED as far as rates. We have a steady environment ahead, albeit with UPWARD RATE PRESSURE
Associate Broker/Team Leader at Coldwell Banker Realty
6 å¹´??????
Commercial | Residential| MVP | Broker Assoc.| Previously Citibank & A Mortgage Brokerage Business Owner
6 å¹´Tried to reply before but my phone died. Good post. Rate increases are a good thing, keeping a lid on the economy. Thank you. Be Well!