During its post-meeting statement, the Federal Open Market Committee of the Federal Reserve announced that its target range for the Fed’s key interest rate would increase one quarter percent to 2.25 to 2.50 percent. While this rate hike was not expected by the Executive branch, it met analyst expectations.
What’s Ahead For Mortgage Rates This Week – December 24th, 2018
Last week’s economic news included readings from the National Association of Home Builders, Commerce Department readings on housing starts and National Association of Realtors(R) report on sales of previously-owned homes. Weekly reports on mortgage rates and first-time jobless claims were also released.
Big Cities vs. Secondary Markets: Where to Buy?
Atlanta, Charlotte, New York and Los Angeles are always on the real estate radar because of big ticket sales and good media coverage. The secondary markets – those markets without the celebrity undertones – may actually be better deals. With the price of borrowing money rising and occupation rates dropping in primary markets, places like Nashville and Birmingham are looking better to investors.
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