Fed Leaves Rates Unchanged

This afternoon the Federal Reserve has forecast a weak economy for at least the next two years and indicated they’d therefore keep rates at record low levels at least until mid-2013.  With economic growth being much slower than expected and with flat household spending, the immediate outlook is lukewarm at best.  For potential buyers in the real estate market this is welcome news that their buying power should remain relatively strong for the foreseeable future.  Interest rates will undoubtedly fluctuate somewhat but without a marked Fed rate change their shouldn’t be tremendous volatility in the mortgage lending market.

Stephen Woodall
REALTOR, GRI @ Long Realty Company
Stephen has made real estate his full-time career and passion since 2008, primarily specializing in the Foothills & the Northwest Tucson areas of Oro Valley and Marana. He is a multi-million dollar producer, representing both sellers & buyers. Stephen has tremendous experience in new home sales, listing & selling primary residences, listing & selling vacant land, listing & selling luxury homes, investment properties, rentals, and real estate development parcels.

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