According to its post-meeting statement issued Wednesday, the Federal Open Market Committee of the Federal Reserve voted not to increase its target federal funds rate. The target federal funds rate will remain at 0.250 to 0.50 percent. Based on review of current and anticipated financial and economic events, the Committee cited slowing job growth and momentum of inflation-based compensation as reasons supporting its decision. While the national unemployment rate recently fell to 4.70 percent, … [Read more...]
The Pros and Cons of Buying a Second Home to Rent
With the ever-fluctuating cost of housing, buying real estate can be one of the best investments a person can make. However, a lot of important factors can be left out of the final decision when it comes to purchasing a home as rental property. If you are taking the initial steps to invest in a second home, here are some important things to consider before you make the financial commitment. The Distance To A Destination Many people who purchase second homes to rent out choose to buy in places … [Read more...]
Boomerang Home Buyers: 4 Things to Consider Before Stepping Back into Homeownership
Whether you've gone back to renting for the sake of money saving or recently downsized to a more compact space, the idea of owning a home can be a big responsibility that may require more than you're willing to give. If you're considering jumping back into the fold of home ownership, here are a few things to contemplate before re-entering the market. Is It Affordable? Many people avoid home ownership for a long time because of the high cost of a down payments and the associated property taxes … [Read more...]
What’s Ahead For Mortgage Rates This Week – June 13, 2016
Last week's economic news was highlighted by Fed Chair Janet Yellen's speech in Philadelphia. Although Chair Yellen alluded to future Fed rate hikes, she did not specify when Fed policymakers would next raise the target federal funds rate. Increases in the fed funds rate typically signal increases in consumer credit and home mortgage rates. Last week's speech was seen as a precursor to the Federal Open Market Committee statement that will occur at the conclusion of next week's FOMC … [Read more...]
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