Hello Everyone and thank you for watching. This is Gia with Palm Beach Premier Real Estate here in Boca Raton Florida with your 2-minute local market report for July 2018.
So this month we wanted to focus on Interest Rates, the Federal Reserve and it’s impact on housing as of August 2018 and in the months ahead for Boca Raton and Palm Beach County Florida.
We approached one of the experts in our market area, Matt Weaver, Vice President of Cross Country Mortgage here in Boca Raton and a regular CNBC contributor for his take on the housing market, interest rates and the actions of the Federal Reserve.
We posed a number of questions to Matt:
1. Matt, can you explain to our viewers in layperson's terms why interest rates are increasing?
2. What are you anticipating from the Federal Reserve for the duration of 2018 and into 2019 as far as rate increases are concerned?
3. What impact will several increases to the Fed Funds Rate have on 30-year fixed rate mortgage rates going forward?
4. What housing market conditions are you expecting in 2019?
5. Given what we've talked about today, what suggestions would you recommend to sellers and buyers looking to make a move within the next 6-12 months?
We hope you enjoy the interview with Matt and please let us know your thoughts and suggestions for future interview topics.