Tuesday, November 3, 2015

What Sacramento Mortgage Rates Could Mean for Homeowners

The Fed’s have got your back! The Federal Reserve is looking out for homeowners from having to pay unruly mortgage rates. Earlier this month, the Fed’s took the time to meet up and concluded with the following statement: “To support continued progress toward maximum employment and price stability, the Committee today reaffirmed its view that the current 0 to 1/4 percent target range for the federal funds rate remains appropriate.” By keeping the mortgage rates low, their hopes are that the economical growth of the country will begin to see improvement. Chief economist, Scott Brown agrees that this is the correct path to travel down by keeping the mortgage rates low. He expressed, “The idea is that you want to encourage more economic activity. Having low interest rates, consumers are more likely to be able to borrow, take risks and to make car and home purchases.”

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