Friends and clients –
During the past few months, we have been hearing about a possible rate increase from the Federal Reserve. Not only has this not happened yet, but the experts keep pushing the date back. First we heard that the Fed would put interest rates up in September. Now we are hearing mid-December – but no one knows if, when or even how much, they may go up.
Uncertainty makes people uncomfortable, because it comes down to IF…and no one likes that feeling so let us take away some of that uncertainty.
We have been watching markets across the nation and feel that the increase if any will not affect the market in a big way, it may affect some niche markets but that will be very few, we don’t see much of an overall change in the housing in our area. In fact we have been watching three key things. These things are leading us to this decision if there is an increase it will have very little impact.
We believe if the Fed does increase the rate it could actually lead to a decrease in mortgage rates, we saw this back in 2015 when the Fed raised the rate in December.
If they do raise the rate it will be a very small increase, which will leave the mortgage rates still at historical low rates.
And finally we have seen the Fed concerned over the shortage of new housing, which is why they will take into consideration the current housing markets, if they increase the rate.
So if you are looking to sell your home, today’s market is proving to be strong and stable and in our local market area we are seeing a demand for housing especially city homes – now might be a perfect time to sell. Looking at selling contact us here.
Buyers, with that in mind, investing in a home can prove to be a good move now too. Make sure to get locked in at these historically low rates. Our RE/MAX team is ready to roll up our sleeves and get to work for you.
We will be happy to answer your questions anytime, just give us a call: 218-732-1191.