The Federal Reserve announced it will not cut rates today, maintaining the target range for the federal funds rate at 4.25% to 4.5%.
“In considering the extent and timing of additional adjustments to the target range for the federal funds rate, the Committee will carefully assess incoming data, the evolving outlook, and the balance of risks,” the Fed said in a statement, referring to its policy making Federal Open Market Committee. The decision was based on the Committee determining “that the risks to achieving its employment and inflation goals are roughly in balance. The economic outlook is uncertain, and the Committee is attentive to the risks to both sides of its dual mandate.”
The central bank added it “will continue reducing its holdings of Treasury securities and agency debt and agency mortgage‑backed securities. The Committee is strongly committed to supporting maximum employment and returning inflation to its 2% objective.”
The decision to hold rates came in a unanimous vote.
Hold the rates and agents educate your builders and sellers to drop the prices.
Educate the builders and sellers to drop prices? How about we stop allowing the Central Bank to set interest rates to an amount that allows billionaires to become multi-billionaires and we allow mobility thru the classes with real estate. The banks are winning big time right now – whether they are lending to investors or primary occupants they are stacking the cash & it’s bc the FED will not reduce interest rates to a reasonable amount.
Nicholas, you are truly clueless. You keep repeating the same, inane rant over and over.
Lower rates will only drive prices up higher. Realtors have been raking it in just like the banks so of course they want rates to come down too. I’m a realtor myself and have been for 25 years. Home prices are absolutely ridiculous and a lot of people are being priced out of this market. A price correction is long overdue and there is plenty of room for it!
Hi, I have been in RE since 1986, When the banks got bailed out in the 2008-2012 range, we were selling homes at the same prices they sold for in 1997 in our area. I know everyone thinks it has skyrocketed, but I think if you go back to 1997 and calculate a study percent 3-4 percent since 1997 to today it will not be more than homes are selling for now. It is seems higher,but the loss in value during that time was really horrific for sellers, and the market has been catching up, along with materials.