Federal Reserve leaders left their target interest rate near zero on Tuesday and restated their intention to keep rates very low for an "extended period" Wednesday, even as they modestly upgraded their assessment of the economy.
Fed leaders left the federal funds rate in a range of zero percent to 0.25 percent, where it has been since December 2008, and said conditions are likely to justify leaving it at "exceptionally low" levels for "an extended period."
This is good news for those still looking to buy or refinance (if possible). However it is unclear how the market will adjust now that the Fed is no longer buying mortgage backed securities and word that a possible sell-off may be in the near future to shrink their balance sheets.
The point is interest rates are at historically low levels and as they begin to rise it might price you out of a home! If you're thinking of buying or are tired of renting contact me and we might be able to figure out a way for you to capitalize before rates begin to climb.
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