So the Fed has made another hike in interest rates. It will certainly be interesting to see how this affects the housing market and the choices people will make in the year ahead.
So far, these rate hikes really haven't seemed to have much of an impact on the long term rates given to consumers by lenders but, at some point, the will have to. I am already seeing small shifts upward and the trend may be here to stay.
http://news.yahoo.com/s/ap/20060131/ap_on_bi_ge/fed_interest_rates_24
Of course, a new Federal Reserve chairman was also sworn in today. I'm sure there is a lot of tension and nervousness out in the financial markets because former chief Greenspan has been there for so long and done a pretty impressive job.
So will the economy be smooth sailing or are there rough waters ahead?
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