Last week the federal reserve announced for just the third time since the financial crisis, that they are raising rates to a range between .75 and 1 percent. The fed announced in their decision that they are planning for slow economic growth, which stands in contrast to some in the market who think the market is growing at a faster pace.
But, does this mean anything for the mobile notary?
How will the fed raising rates affect new housing sales, as well as refinances? The scary answer is that it would discourage buyers from coming to the table. But, the reality may be far different.
Rates are still at historic lows, and the fed is looking at raising the rates again in the coming months, maybe several times. This could encourage buyers to close the deal before the rates rise again.
Ms. Zentner said she expected the Fed to raise rates again at its June meeting. The Fed’s policy-making committee next meets on May 2 and 3. — New York Times
Some analysts believe that we may see four or five more rate hikes in the next two years.
Federal Reserve Chairperson Janet Yellen has made it clear that she expects to recommend (a minimum) of three increases in the Federal Reserve interest rate in 2017. The extent of the effects of these rate hikes will depend in part on the size of the rate increase. — Yahoo Finance
The banks are already bracing for the higher rates. Early reports had bank stocks slightly increasing on the news. But, expect them to make a push to get buyer and refinancers to the table before the next hike.