It's Official: FED raises interest rates!

By
Mortgage and Lending with The Michael Haigh Team NMLS# 200819

It's Official: FED raises interest rates!

 

"In a statement released Wednesday by the Federal Reserve, the FOMC voted unanimously to raise the target range for the federal funds rate from 0.5% to 0.75%, effective Dec. 15, 2016."

 

They moved up as expected, and now we are looking at possibly two more hikes this next year. So time to talk to your lender and understand what this means for your specific financial situation!

 

 http://www.housingwire.com/articles/38757-its-official-fed-raises-interest-rates-for-first-time-since-last-december

 

Michael Haigh

NMLS#200819

650.409.5918 (Direct)

Michael.Haigh@SupremeLending.com

 

 

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Rainmaker
3,983,519
William Feela
WHISPERING PINES REALTY - North Branch, MN
Realtor, Whispering Pines Realty 651-674-5999 No.

I believe this is great news.  WE need to get back to more normal rates.

Dec 14, 2016 04:53 PM #1
Ambassador
2,362,170
Fred Griffin, on leave of absence from ActiveRain
Fred Griffin Real Estate - Tallahassee, FL
Licensed Florida Real Estate Broker

     The Fed kept rates artificially low to make Obama look good.  Now they bump them to make Trump look bad.

Dec 14, 2016 04:59 PM #2
Rainer
293,686
Lee Marlin
First United Realty of Georgia - Atlanta, GA
ATL Metro 404.384.2274 - Luxury/Divorce/ShortSales

I agree that this is a good time to raise rates.

For Realtors with buyers  and sellers who have been on the fence waiting for a signal of what's happening in the economy and wondering when it's time to buy or sell - YOU HAVE YOUR ANSWER!

REALTORS - START YOUR ENGINES!

The Federal Reserve has signalled that we should expect three more rate hikes in 2017.

Buyers: Get engaged quickly so that you qualify for the most attractives NOW! Find that new home now so that you beat the Spring Rush.

Sellers: Get your home in top condition and get on the market as soon as possible (rates are lower and inventory is low also so there is less competition if you start now).

Realtors - Call your sphere and  wish them happy holidays and ("Oh, by the way, have you heard that mortgage rates are rising? Are you, a family member, co-worker, a friend considering making a move in 2017?")

Good Hunting!

 

Dec 15, 2016 05:51 AM #3
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Michael Haigh

Production Manager/Top Producing Sr. Loan Officer
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