Marketwatch reports the Federal Reserve is definitely lifting interest rates in December, if the market correctly priced a key contract. According to trading in fedl funds futures, there’s a 100% chance that the Fed will lift interest rates a quarter point to somewhere between a half-point and three-quarters of a point. There’s a slight chance the Fed could be even more aggressive. Last week Fed Chairman Janet Yellen said the central bank may lift interest rates “relatively soon.”
The National Association of Realtors reports sales of previously owned homes ran at a seasonally adjusted annual rate of 5.60 million. That’s 2% higher than in September and 5.9% higher than a year ago. Economists expected only 5.42 million is the fastest pace since February of 2007. Sles increased in all four regions. There were 4.3% fewer homes on the market in October than in the same period last year, for the 17th straight month of falling inventory. The median price of $232,200. That’s 6% higher than October 2015.
Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK.
