Raleigh Residential Real Estate – Good News for Raleigh, North Carolina Home Buyers and Sellers

Good News for Raleigh, North Carolina Home Buyers and Sellers – Fed holds rates steady

The Federal Reserve held interest rates steady at 5.25% on Wednesday and acknowledged the economy was slowing.  This is the overnight bank rate that affects the rates of credit cards, auto loans and home equity loans.

Some see this as a sign the central bank may not need to raise rates further anytime soon. Some experts are projecting that with the housing market slowing and inflation steady or declining the Fed may start lowering rates as soon as next year.

According to Inman News, “The 30-year fixed-rate average sank to 5.89 percent, and the 15-year fixed-rate declined to 5.59 percent. The 1-year adjustable was up at 5.35 percent.”

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