Buy now before interest rates go up is the word from the professionals!
The Federal Reserve voted unanimously on Wednesday, 12/16/2015, to raise interest rates by a quarter point, marking the first increase in more than nine years. The bank raised its fed funds rate to a range of 0.25% to 0.5%, ending an unprecedented seven-year run of near-zero interest rates. The vote was 10-0.
The board of directors also raised the discount rate to 1% from 0.75%. Looking ahead, the Fed said it will "carefully'monitor" actual inflation in light of 'current shortfall." And given current economic conditions, the bank said interest rates are only likely to increase in a "gradual" manner, ending up at a long-run target of 3.5%. That was unchanged from its September forecast.
Source: The Wall Street Journal
Author:Mary Watts Phone: 832-616-6016 Dated: December 17th 2015 Views: 890 About Mary: Mary Watts Real Estate Group at eXp Realty is a committed group of professionals that go above and b...
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