Federal Reserve Chief, Janet Yellen, again confirmed last week her intent to raise short-term interest rates this month,as long as inflation and employment data continue to meet the Fed’s expectations; which both are expected to do. The next Fed meeting is March 14-15, the Fed will most likely raise rates from the current 0.75% to 1.00%. The Fed has other meetings scheduled in June, September and December when Economic Projections are made and when they could raise rates again to 1.25% and then 1.50% by the end of the year. Reinforcing the Fed’s plans was the Department of Labor’s recent announcement that unemployment filings fell to near a 44 year low for the week ending February 25-down 19,000, to a seasonally adjusted 223,000. The current unemployment rate is 4.8%. This was the 104th week that claims have remained below 300,000—the longest stretch since 1970. According to economists, the Fed’s increased interest rates have multiple benefits, including holding inflation in check, increasing lending levels, strengthening the dollar, increasing home buying from tentative individuals, raising returns for those saving money and returning stock trading to more traditional fundamentals (instead of the knee-jerk reactions to economic announcements). Please call the Lucy Lending Team today to get pre-approved, see your purchasing power now, versus in 6 months when interest rates and property values are higher and let us lock you in ASAP! Zach and the Lucy Lending Team [email protected] 843-469-9010 www.charlestonmortgagelender.com #janetyellen #fed #economy #interestrates #rates #Charleston #chs #realestate #homebuying #locknow #mortgage #lending #financing #trusted #local #lucylendingteam #zachlarichiuta
The Fed is 98% Likely to Raise Rates Next Week!
