Breaking News: The Taper
Clock is Ticking…
The Federal Open Market
Committee (FOMC), that regulates the interest rates that banks pay for money,
just announced that they are not going to change interest rates currently (good
news). They went on to say, however, that they are going to accelerate their
timeframe for reducing that amount of mortgage backed securities that they are
buying each month starting October instead of December (bad news for
rates). 12 out of 16 FOMC members predict a rate hike this year.
This is basically what the markets
were expecting with the exception of the acceleration of tapering. This is negative for pricing.
This news should create a
sense of urgency for the public when they watch the news this evening.
The clock is ticking…get your buyers to us to get preapproved right away.
Call The Easterbrook Team Today
916.850.6050
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