Feds Choose to Postpone Rate Increase
The Federal Reserve has announced they will not be raising the federal funds interest rate.
Recently, there has been a lot of talk and speculation surrounding the potential increase in rates. The pros and cons have been discussed at length, both sides holding valid and strong arguments. The rates have been held at a lower level than normal due to an uncertainty in the economy. The reasoning behind this decision is being attributed to tighter financial conditions and slow growth in domestic economies.
The next time the Feds will meet to discuss a potential hike in the rates is the end of October. While some are reluctant towards a rate increase, many experts are saying the increase should not greatly impact the housing market or the ability to afford a loan. The impact could be very centralized to specific areas.
While this decision will leave us to continue wondering when the interest rates will eventually go up, until then we can take advantage of the lower rate and continue building up a sturdy economy and market.