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Fed votes to raise key interest rate again

Jun 16, 2017

This week, the Federal Reserve took a largely expected move to raise its key interest rate one-quarter percentage point. This marks the second of three hikes that is expected to occur this year. 

While mortgage rates aren’t directly tied to the Fed’s key interest rate, rates are still influenced by the movement. Mortgage rates are predicted to start rising, and many homeowners and prospective homeowners are already bracing for the uptick. 

Learn more.

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New York State home sales fall short of record 3Q high

There were 38,445 homes sold across New York State during the 2017 third quarter, a 3.1-percent decline from the 2016 third quarter’s record total. The 2017 third quarter sales total is the second best on record for the period. The median sales price growth trend continued in the third quarter, posting a 5-percent increase to $261,500. Click here to read more.

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