The Fed’s taper announcment didn’t rile the markets, and so far it seems to be well received. How will impact home sales?
Here’s what Bill McBride said,
“Rates will be low for a long long time …” As far as the “Appropriate timing of policy firming”, the participants moved out a little with three participants now seeing the first increase in 2016.
Buyers should be rejoicing at the thought of rates staying low for the next couple of years, and be very deliberate about what home they buy, and for how much. Conditions are ideal for the wait-and-seers!!
But can buyers keep a hold of themselves?
In spite of every reason to stay patient, buyers will be tempted to jump at every decent deal they see. The definition of ‘decent deal’ will likely be a moving target in 2014!