Last Wednesday, the Federal Reserve (a.k.a. #TheFED), met to discuss the economy. Based upon their minutes, overall the Fed believes that the improving economy warrants a rate increase. The question is still “when” will the increase occur? Historically, this Fed has been slow to raise rates so while there is a chance that they will increase rates in mid-March it’s more likely we will see a June rate increase. Rates have stayed historically low, but just a tad more than what we had seen over the last several years. Meanwhile, for the third week in a row the major stock indexes hit new all-time highs and the labor market strengthened slightly in the face of a slight increase in jobless claims. Overall, positive economic news.
Geoffrey Davis – Mortgage Loan Consultant
First United Bank & Trust
6401 S. Custer Rd.
McKinney, TX 75070