Fed’s message on interest rates is a boost to the housing market
Federal Reserve Chairman Jerome Powell said the Feds would be “patient” in evaluating the health of the economy given “Global economic and financial development and muted inflation pressures.”
Whether the decision is financial or political, the hint could mean borrowing will continue to be attractive, and the housing market will benefit from that.
The average 30-year rate for mortgages is still under 5%. This year will be a good year to buy a house or sell property.
If you are in the market of buying and selling, please give us a call at 313-819-0101.