Two days ago the interest rates dropped, as the perception was the Federal Reserve was going to hold off on increasing the over night Fed rate. Then over the past two days, there has been enough fed speak from the powers that be at the Federal Reserve, that the bond market is now perceiving a move sooner than expected. In reality the recent economic reports have been on the weaker side, and the presidential election is only a couple months away. Normally the Fed stays tight before an election, but we’ll see. All eyes will be on the next Fed FOMC meeting is September 21. Meanwhile, the rates have jumped over the past two days, and have broken out of a tight technical range.
If you are in the Los Angeles area, have any questions or real estate sales or financing needs, feel free in contacting me.
Ron Henderson GRI, RECS, CIAS
Multi Real Estate Services, Inc.
Gov’t Affairs Chair – California Association of Mortgage Professionals
Specialist in the Art of Real Estate Sales and Finance
Real Estate market, mortgage rates, Los Angeles, San Fernando Valley, Conejo Valley, Simi Valley, Woodland Hills, West Hills, Calabasas, Chatsworth