The Federal Reserve finally raised rates for the first time this year at their December meeting, and suggested there could be three more rate hikes next year. There’s lots of varied opinions about what this could mean for real estate. So let’s tackle it!
It was a unanimous vote by the Federal Open Market Committee. After threatening to do so for several months now, the central bank raised the key interest rate another quarter percent. This means that the overnight lending rate between banks is now up to a half-percent from a quarter percent.
This was the first rate hike in 2016, even though the Fed announced last December that it would raise rates four times this year.
Why did it take so long?
To find out more, go to: www.NewsForInvestors.com