It was a pretty quiet week in the financial markets. The new Chair of the Federal Reserve takes over today and is the first woman to ever hold the position. Janet Yellen now becomes the most powerful financier in the world! She is expected to maintain similar policy as her predecessor Ben Bernanke. So the change has not impacted the market’s expectations for Fed behavior. This is a good thing for housing as Bernanke’s Fed has established a very interest-rate-friendly environment as he led us through the financial difficulties of years past.
All this said interest rates remain at their lowest levels since Thanksgiving and sets up spring market buyers very nicely!
Jason F. Griesser, CMB
Sr. Mortgage Consultant
Ph: 215-440-2073 | Fx: 610-650-5611