Wednesday, March 23, 2005

March 22 - Fed Raises Rates on Tuesday - Fed Raises Rates on Tuesday

RISMEDIA, March 23 – The Federal Reserve Tuesday raised interest rates again, boosting the federal funds rate by a quarter percentage point to 2.75%.

While the mortgage markets already increased their rates anticipating the Fed action, similar increases throughout the year could impact real estate sales.

"We see the Federal Reserve continuing to raise rates for the next five meetings," says Lawrence Yun, senior economist for the National Association of Realtors. "The cycle … will slowly impact the mortgage rates."

No comments:

Post a Comment