Will the FED keep me from Buying, Lancaster Co.,PA ?

By
Real Estate Agent with KW Elite
http://activerain.com/droplet/4Ygz

The Fed Raised Rates: What Does that Mean for Housing?

The Fed Raised Rates: What Does that Mean for Housing? | MyKCM

You may have heard that the Federal Reserve raised rates last week… But what does that mean if you are looking to buy a home in the near future?

Many in the housing industry have predicted that the Federal Open Market Committee (FOMC), the policy-making arm of the Federal Reserve, would vote to raise the federal fund's target rate at their December meeting. For only the second time in a decade, this is exactly what happened.

There were many factors that contributed to the 0.25 point increase (from 0.50 to 0.75), but many are pointing to the latest jobs report and low unemployment rate (4.6%) as the main reason.

Tim Manni, Mortgage Expert at Nerd Wallet, had this to say,

“Homebuyers shouldn’t be particularly concerned with [last week’s] Fed move. Even with rates hovering over 4 percent, they’re still historically low. Most market observers are expecting a gradual rise in home loan rates in the near term, anticipating mortgage rates to stay under 5 percent through 2017.”

Bottom Line

Only time will tell what the long-term impact of the rate hike will be, but in the short term, there should be no reason for alarm.

Buyers , now is the time to persue your next home ! your first step is Mortgage Pre-Approval ! Email mikeperrykw@gmail.com to get started.

 

 
Posted by

 

Michael J. Perry

KELLER WILLIAMS Elite

www.lancaster4sale.com  

 

1280 Plaza Blvd. , Lancaster, PA 17601

   facebook  Google me  Find us on Google+

Longtime West Lampeter resident and Lancaster County Realtor!

SUBSCRIBE TO MY BLOG VIA EMAIL

Enter your email address:

Delivered by FeedBurner

close

Re-Blogged 1 time:

Re-Blogged By Re-Blogged At
  1. Don Hess 12/23/2016 07:00 AM
Topic:
Home Buying
Location:
Pennsylvania Lancaster County Lancaster West Lampeter Township
Groups:
1st Time Buyers
ABR-Accredited Buyer Representatives
Keller Williams Realty Referral Group
It's A Buyer's Market
Buyer Information - What Buyers Need to Know in Today's Market
Tags:
west lampeter real estate news
penn manor real estate news
solanco real estate news

Post a Comment
Spam prevention
Spam prevention
Show All Comments
Ambassador
2,489,854
Ed Silva
RE/MAX Professionals, CT 203-206-0754 - Waterbury, CT
Central CT Real Estate Broker Serving all equally

While people may panic at the thought of a higher interest rate, not without some concern, rates are still at historical lows so a bargain is still there for the taking.

Dec 22, 2016 08:19 AM #1
Rainmaker
1,702,468
Michael J. Perry
KW Elite - Lancaster, PA
Lancaster, PA Relo Specialist

422 views to date !

Sep 11, 2017 07:57 PM #2
Post a Comment
Spam prevention
Show All Comments

What's the reason you're reporting this blog entry?

Are you sure you want to report this blog entry as spam?

Rainmaker
1,702,468

Michael J. Perry

Lancaster, PA Relo Specialist
Ask me a question
*
*
*
*
Spam prevention