Eastchester NY Homes for Sale:
Interest Rates to Remain Low through 2014
If you’re worried interest rates will climb before you choose one of those amazing Eastchester NY homes for sale, worry no more. There’s still plenty of time to buy (but don’t put it off too long); on Jan. 25 the Federal Reserve committed to holding interest rates low through 2014.
This surprise move will allow the United States economy – including the housing market – more time to heal from the country’s recent economic afflictions.
Initially the Fed promised to keep rates between 0 percent and .25 percent through mid-2013. In a Feb. 25 Wall Street Journal Market Watch article, “Fed Pushes out Low-Rate Pledge to Late 2014,” journalist Greg Robb reported, “The Fed opened a new era of transparency, releasing for the first time the projected path of rates by its 17 members and set a specific inflation goal of 2 percent. But it was extending the timing of the first rate move that overshadowed all the moves.”
Federal Reserve Chairman Ben Bernanke described the U.S. economy as “fragile” in a press conference called to highlight the announcement.
What does this mean for shoppers of Eastchester NY homes for sale? It means the federal government is encouraging consumers to inflect dollars into the economic system and it’s willing to give consumers a helping hand by keeping rates affordable for an extended period of time.
High unemployment rates and subdued inflation were sited as factors in a central bank economic forecast.
Home shoppers should not miss this opportunity to take advantage of historically low interest rates to finance Eastchester NY homes for sale. Browse through Prudential Centennial’s many Eastchester listings, or learn more about the beautiful community online today!
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