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Stats at a Glance

Jan. Median Prices (Detached-Compared to Previous Month) 4.0% INCREASE
Jan. Median Prices (Attached-Compared to Previous Month) 4.0% DECREASE
Jan. Sold Listings (Detached-Compared to Previous Month) UNCHANGED
Jan. Sold Listings (Attached-Compared to Previous Month) 5.8% INCREASE

Local real estate market statistics are updated here monthly.

TF Trainings

Impact of Fed Rate Hike is Expected to be Negligible

July 31, 2023

On Wednesday, July 26, the Federal Reserve again decided to raise interest rates for the 11th time in 17 months in a continuing effort to counter inflation. Even though the hike bumped interest rates from 5.1% to 5.3%, the actual impact on the mortgage rates should be minor, at most.

While the federal reserve’s interest rates do play an important role in determining mortgage rates, they are independent of one another, and mortgage rates are created from a combination of financial markets and individual application details.

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admin Jan. Median Prices (Detached-Compared to Previous Month) 4.0% INCREASE Jan. Median Prices (Attached-Compared to Previous Month) 4.0% DECREASE Jan. Sold Listings (Detached-Compared to Previous Month) UNCHANGED Jan. Sold Listings (Attached-Compared to Previous Month) 5.8% INCREASE