Posted on December 16, 2015 - 04:47 PM
by Paul Dumke
The Federal Reserve voted unanimously on Wednesday to raise interest rates by a quarter point, marking the first increase in more than nine years. The bank raised its fed funds rate to a range of 0.25% to 0.5%, ending an unprecedented seven-year run of near-zero interest rates. The vote was 10-0.
The board of directors also raised the discount rate to 1% from 0.75%. Looking ahead, the Fed said it will "carefully'monitor" actual inflation in light of 'current shortfall." And given current economic conditions, the bank said interest rates are only likely to increase in a "gradual" manner, ending up at a long-run target of 3.5%. That was unchanged from its September forecast.
Already registered? Login FREE AUTOMATED EMAIL UPDATES Sign in to take advantage of all this site has to offer. Save your favorite listings and searches – also receive email updates when listings you like come on the market for free! *Contact Information NOT Shared* How Do I Search For Homes?
How do I save listings and Searches for Free Listing Updates? Click Here for More Information
All information deemed reliable but not guaranteed. Copyright 2018 MichRIC, LLC All rights reserved. Copyright 2018 MichRIC, LLC All rights reserved.
The data relating to real estate for sale on this website comes in part from the Broker Reciprocity Program of MichRIC, LLC. Real estate listings held by brokerage firms other than Intergrity R.E. Professionals Lakeshore are marked with the BR logo and detailed information about them includes the name of the listing broker. Listing broker has attempted to offer accurate data, but buyers are advised to confirm all items. Information last updated on 2018-07-19.