Real Estate Markets Reports Strong Numbers To Close Out 2016
Fed Raises Interest Rates
The Fed recently made the move to raise short term interest rates for the first time since the economic downturn of the late 2000’s. Fortunately, an interest rate hike from the Federal Reserve does not equate to higher mortgage interest rates for home buyers. Mortgage interest rates long with long term debt actually lag behind short term interest rates with many experts predicting mortgage rate increases spread out over the next few years & not just days or weeks.
As rates begin to rise over the coming years remember, we would have to go back in time to the 1950’s, to find interest rates this low. Specifically 1956, the year Elvis’ “Heartbreak Hotel” hit number one on the record charts.
