THE ADAMS TEAM
Rothwell Gornt Companies
Las Vegas Real Estate Agent Robert Adams Las Vegas Real Estate Blog
For buyers, get rates locked in sooner rather than later is going to save you money and buying power in the future. This could potentially push prices down further in the short term, so when we are out there buying we will help get you better deals so you have more walk in equity to be able to absorb any value decreases without being upside down in the home.
For sellers, this will further dampen demand and lower affordability for buyer's that are on the edge of being priced out of buying your home. This will also likely push down prices and you may get even less for your home next year.
For move up sellers (selling a smaller home and buying larger one) as well as downsizing sellers (selling a larger home to buy a smaller home), both explainations above are applicable in that if you can sell sooner than later to maximize your returns that is best AND make sure to "buy smart" on your new purchase to offset any potential decreases in values.
FEDERAL RESERVE WATCH
Forecasting Federal Reserve policy changes in coming months. The Fed Funds Futures market expects rate hikes for the rest of the year, starting with a three-quarter percent bump this month. Note: In the lower chart a 57.0% probability of change is a 57.0% probability the rate will rise. Current rate is 2.25%-2.50%.
AFTER FEDERAL OPEN MARKET COMMITTEE (FOMC) MEETING ON: CONSENSUS
Below are the projected FED RATES NOT Mortgage Rates
(we are happy to explain the difference if needed)
Sep 21 3.00%-3.25%
Nov 2 3.25%-3.50%
Dec 14 3.50%-3.75%
This is showing that they are projecting 3 more rate increases before year end and all 3 increases are expected to be between .5% and .75% each time.
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