Friday, March 22, 2013

Interest Rates Are Staying Low....So They Say!

Yep, here it is, almost Friday night date night in one of the busiest weeks I've had in a while! But, I can't leave the Friday calendar without the information I read this week about interest rates and mortgage buy-backs continuing!

The Federal Open Market Committee voted 11 - 1 to stay status quo. To 'maintain downward pressure on longer term interest rates, support mortgage markets, and help to make broader financial conditions more accommodatve'. (I don't think that really is a word!)

At any rate, based upon the article with small economic growth projected. Small reduction in unemployment predicted...they felt that continuing along the path of buying securities and pressing down interest rates would be in effect through 2015.

This time period keeps extending, and I'm glad. As prices creep up, it would be nice to keep rates low for buyers that are struggling to find homes with this low inventory.

Feel free to chime in!

No comments: