Corcoran Urban Real Estate
 

Fed Raises Key Interest Rates

Fed Raises Key Interest Rates The Fed today announced that it was raising a key interest rate for the first time in nearly a decade.

Short-term interest rates have been held by the Fed at near-zero since the financial crisis and while the interest rate increase may, at first, seem like bad news for borrowers, it shouldn't have a big effect on the housing market, as long-term interest rates will continue to remain at historic lows for quite some time.

Besides the news for borrowers, the Fed's move also signals confidence in the American economy.

Read more at the New York Times here.