When someone purchases their first home, this is a significant step. There are a number of issues that people need to think about because purchasing a home is typically someone’s most significant investment.
The Federal Open Market Committee of the Federal Reserve announced its unanimous decision not to change to the current target federal funds range of 1.50 to 1.75 percent. The committee’s customary post-meeting statement said the decision not to change the Fed’s target range for federal funds was based on factors including a strong labor market, moderate economic growth, continued job growth, and low unemployment.
It is important for everyone to diversify their investments and one of the assets that people often look toward is real estate. In a healthy market, real estate should appreciate in value.
One of the most common worries that people have is money. When it comes to those golden retirement years, many people worry about running out of money. At the same time, most people who reach their retirement years have a lot of equity in their home.
Last week’s economic reports included readings on construction spending and multiple labor sector reports including private and public sector jobs and the national unemployment rate. Weekly reports on average mortgage rates and first-time jobless claims were also released.