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Interest Rates On The Rise!

Interest Rates On The Rise!
Posted on November 11, 2015 by Michael

Since the strong jobs reports from late last week, we have continued to see and increase in interest rates. This tells us that the time has come for the Federal Reserve to finally start pushing interest rates back up. What does this mean for homebuyers? While it does decrease a buyers purchasing power, buyers should remain calm and understand that from a histroical perspective today's rates are still very low. We hope that the increase in interest rates creates some urgency in the home market during a time of the year where we typically do not see much activity due to the holiday's. The Federal Reserve is scheduled to meet in December and determine what they will do with interest rates. What happens between now and then is anybody's guess.