Interest Rate Christmas Present?

The FED announced today that a small interest rate hike is coming — I guess along with Santa Claus. Good thing or bad thing?  Who knows?  I will be interested to see what effect if any the hike will have on home purchases and residential refinances.  Many have been lulled into believing that rates will stay at near 0% forever, but nothing lasts forever and remember to never say “never.”  My guess is that there is growing confidence in the economy and the FED surely needs to build a little cushion so they will have somewhere to drop rates if needed in the future.  Probably the slight hike forecasted will inspire a lot of fence sitters to buy or build that new home, or to refinance that mortgage before good’ol US money gets more expensive.  I’m just a simple country lawyer, but  I expect to see our real estate market to keep momentum.  We are ready to handle the real estate closings and to work with the great realtors, bankers and closing attorneys to get deals done quickly, efficiently and as always with this little firm with courteous, friendly service.

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