Latest News

Fed hints at looming December rate hike

Sep 22, 2017
The Federal Reserve recently voted to leave its short-term rates unchanged, but it did indicate that a rise to its short-term interest rates is likely on track for later this year. 

The Fed kept its key rates near zero for seven years. But since 2015, it has gradually raised rates by a quarter of a percentage point four times. Most recently it raised rates in June at a range of between 1 percent and 1.25 percent. 

NAR Chief Economist Lawrence Yun predicts that the 30-year fixed-rate mortgage may rise to slightly above 4 percent by the end of the year, and may reach just 4.7 percent by the end of 2018.

Learn more
Featured Content

Empire State housing market stays hot in January

New York State home sales remained strong to start the new year with 8,698 closed sales, falling just shy of the 2017 record for January, according to the annual housing market report released by the New York State Association of REALTORS. The January statewide median sales price of $266,000 represented an increase of 8.4 percent from a year ago. Click here to read more.