Back in January 2016, I posted about a change in interest rates that was coming which may affect our market. At the time, the Fed Funds rate was at 0.38% and I mentioned rates would be going up, but no one knew when. You’ll never guess what it is today!!! 1.16%!! This is a significant increase for only 1.5 years. We are on year 9 of the historical 7 to 10 year real estate market cycle. You can roll the dice and see if you can get more for you home, BUT if you are looking to sell, NOW is a good time!
In Washington, we have a seasonal market and there are buyers NOW through September. Listing your home won’t sell it, but listing it correctly will! I can help you prepare your home correctly to get the most equity for the least amount of money. I can also help you price it correctly to ensure you don’t sit on the maket past the summer, in turn resulting in less money in your pocket. In receiving a double major in Busienss at UW, I can represent you correctly as I have been trained in negotiations, business management and being a level head to a very emotional situation.
I sell listings all over Western Washington, so if you do not already have an agent you know and trust, let me know if I can be your resource. Feel free to find my glowing recommendations on Zillow. I am focusing on Stanwood and Camano and surrounding areas for buyers, but am happy to negotiate on your behalf and use a qualified and hard working touring agent to assist in your home search if you are not in my touring area.
This market will not last forever. We have finally reached our 2008 prices, and you can now recover what you paid for your home. Although prices are high, interest rates are still low, so if you are unable to justify renting for a couple of years, there is still interest write off benefits and practically free money to borrow at this time.
I look forward to hearing if I can be of service to you. 😉
Have a safe and wonderful 4th! 🙂
5 thoughts on “Fed Funds Rate Increasing!”
Fed funds rate is now at 1.42% as of today!!
Prime is at 4.5%
Not even one year later and we are already seeing over 0.5% increase in the Fed Funds rate, now at 1.69%!
Today, Fed Funds rate is at 2.18%, with Prime at 5.25!