In a recent article on Reuters.com they report that “Fed officials agreed last month to leave interest rates near zero and to keep purchasing $120 billion a month in bonds until the U.S. economy makes substantial further progress toward the Fed’s goals for inflation and maximum employment” They further inform us that “Fed Bank President Robert Kaplan said on Monday that he still thinks it is possible the U.S. central bank could raise interest rates before the end of 2022, reaffirming the projection he made during the March policy-setting meeting.“
This news rings strong for the home buyers who have yet to find the right home purchase for them as they are facing low inventory, therefore high prices, of residential properties currently available.
For more details on the future of mortgage interest rates, read Reuters article:
Fed’s Kaplan says he still expects first rate hike could happen in 2022
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