Why September's Federal Funds Rate News Matters to Brookings Homeowners
Posted by Shane Andersen on
As September rolls in, the spotlight is back on the Federal Reserve (the Fed) and their much-anticipated decisions on the Federal Funds Rate. There's a growing expectation that the Fed will reduce the rate at their upcoming meeting, largely driven by signs of easing inflation and a cooling job market. This shift could have a significant impact on the housing market, and even more importantly, it could affect you as a current homeowner or potential homebuyer here in Brookings, South Dakota.
Mark Zandi, Chief Economist at Moody’s Analytics, summed it up perfectly when he said:
“They’re ready to cut, just as long as we don’t get an inflation surprise between now and September, which we won’t.”
But what does this mean for the local real estate…
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