Interesting article below. Rates will stay low for at least another year and half. I believe this will push prices higher as buyers can afford more and loan restriction start to ease. It is a great time to look at residential or commercial. Commercial prices are as low as $100 a SF for class A space. Don't wait, Call me today! 919-669-3937
Monetary policy - fed expects to
keep rates low through 2014
The Fed Meeting Adjourned today – the Fed’s Monetary Policy Statement language rang loudly this afternoon. Their Monetary stance now states that they expect to keep rates exceptionally low through late 2014. Their low rate commitment timeline has increased by a year. Treasuries reacted immediately to the news, with the 10 Year Yield dropping below 2%. Great news for Triangle housing and homeowners.
On to other news from today, Mortgage Applications slipped in volume for the week ending January 20th as Mortgage Rates inched up. The Mortgage Application Index showed a drop of five percent which was in sharp contrast to the twenty percent rise we saw last week.
According to the National Association of Realtors, pending home sales were down 3.5% in December – that decline was a bit more dramatic than expected. Good news though, in that year over year figures for pending sales data was up 5.6% for that same time frame.
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