Happy New Year and my best for you and your family in 2016!
It hardly seems it’s been a 12 months since we entered a New Year and yet here we are again. So much has happened this past year in our world, weather, economy, our real estate market, and to each of us personally. Here’s to a wonderful, healthy and happy new year to everyone!
After a great deal of “will they or won’t they”, the Federal Reserve finally raised their rate in early December, but it hardly registered on the mortgage market, and in fact, initially interest rates went down shortly but have climbed up a little since then. Depending on the amount of the loan mortgage rates remain under 4% as investors look to treasury bonds and continued low inflation. It took over nine years for the Federal Reserve to raise rates, but it was only a 1/4 point, not enough to give anyone angst as we move into 2016. The Fed was most lenient this December because the economy is not in the negative (try, 2% GDP growth so far) and employment hovers at 5%, which was good enough to keep the Fed increase low.
“Tepid” is a good word to describe the forthcoming first quarter nationally — no one expects major surprises on the mortgage front. However, in talking to both of my title representatives and escrow officers as well as other agents in my office, we are all expecting a strong start to the new year, in fact, I have two listings coming up in the next few weeks. Our Westside market remains strong and so far, after 11 months, is still ahead of last year in total sales volume.
Please let me know how I can assist you with any and all of your real estate needs, and once again I invite you to please visit my Facebook page http://www.facebook.com/CaroleSchifferRealtor.