June 15, 2017 : Fed raises rates and says two more increases likely

This week’s Markets In A Minute fills us in on home prices, the news that the fed raises rates an what  is expected in the next few months

Prefer video? Find out what happened in the markets here:

• As expected, the Fed raised policy rates a quarter percent at this week’s meeting. The increase will likely have little impact on long-term mortgage rates.
• The surprise came with the Fed’s statement that two more rate hikes are likely this year. That’s one more than initially projected.
• Strong economic indicators support the rate changes. Jobless claims dropped 4K from last week, and last month’s retail sales were higher than anticipated.

• Median priced homes are flying off the shelves, so to speak. A recent industry analysis pinpointed the median listed-to-sale time frame at 64 days, a post-recession low.
• A recent Fannie Mae survey found sellers more positive than buyers. Price increases paired with rising rates are tempering buyer attitudes.
• CoreLogic reports the average U.S. homeowner gained $16,300 in home equity over the last year. Increased equity gives owners more flexibility in selling and financing.

The soldiers were exhausted after an extended time in drills, largely due to one soldier’s consistent errors. Finally, the drill sergeant said, “All right! All you idiots fall out!” As the rest of the relieved squad wandered away, the mistake-prone solder remained at attention. The drill instructor walked over, stood face-to-face, then raised a single eyebrow. The soldier smiled and said, “Sure was a lot of ’em, huh, sir?”

Wondering how changing interest rates and home prices might affect your budget?

Find out with this interactive calculator:   http://mysdlender.com/24t7psI

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