For the first time since the economy fell 7 years ago, the Federal Reserve is considering raising interest rates. The move to raise interest rates could come as early as June. Those looking to borrow money for a mortgage still have the opportunity to take advantage of the extremely low rates!
Some are surprised by the June date for rate increases. Previously the Federal Reserve had indicated rates would increase much sooner than this spring. The Federal Reserve will remain patient when deciding to raise the rates waiting for an improvement in the labor market. With the drop in the market today, the Federal Reserve may decide not to increase rates after all.
For more information on the Federal Reserve interest rate news, you can view the entire article via the NY Times here.
With the possibility of a rate increase in the near future, now is the time for those looking for property to buy so take advantage. Pending listings are at their highest this year with 83 properties pending from March 7 – March 13! The Hansen Ohana is a full service real estate company ready to help you reach your property dreams! Contact us today!