Lawrence Yun, chief economist for the National Association of REALTORS®, reacts to yesterday’s decision by the Federal Reserve to hold off on raising short-term interest rates. Click here to listen to what he has to say.
In a nutshell, Yun says raising or not raising short-term rates isn’t likely to have a big impact on mortgage rates. Short-term rates are just one of many factors impacting long-term mortgage rates. A bigger issue to watch if a rate hike is approved later this year is “how fast and for how long the rate increases when it first takes place,” Yun said. You can read more here.
In other headlines:
Fed Rate Decision Keeps Monetary Debate Raging – Wall Street Journal
Realtors® Help CFPB Director Cordray Unveil New Know Before You Owe Online Tools – National Association of REALTORS®
This Isn’t a Housing Bubble: Here’s Why – NAR Daily Real Estate New