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Henry County Home Loan Rates News Nudges Buyers & Sellers
Last week, Henry County residents who found themselves at any stage of preparing to buy or sell Henry County homes had to have been motivated by what came out of Washington. Last Wednesday was the day the Federal Reserve officials were set to announce their new target for the benchmark federal funds rate. That’s the key trigger for future Henry County home loan rates, which largely determine how attractive (or not) upcoming loan packages offers will be.
Since any rise in rates raises monthly payment amounts—even if the underlying size of the loan remains the same—potential buyers and sellers have reason to watch what the Fed does with varying degrees of apprehension. Lately, strong economic performance has made it increasingly likely that rate rises will be forthcoming—and in its announcement, phrases like, “the economy is growing at a strong pace” were included. Earlier pronouncements have strongly indicated that three or four target raises are likely this year. So far, there have been two.
The news was encouraging for those with homes currently on the market, or soon to list—as well as for those looking to buy. Not only did the Open Market Committee announce that the target rate would remain unchanged; they ... more
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