September 2015 Market Report Graphic

Lately, there has been a lot of talk about interest rates (again). Will they go up? Will they go down? Not even the Fed seems to know for sure but mixed economic data and fears about a global economic slowdown kept them from raising rates at the September meeting. More and more economists are moving into the camp that believes we won't see a raise before March of 2016.  Regardless of when it happens, a quarter point hike will still leave interest rates at historical lows. Some experts believe rates would have to rise at least 2% before buyers would have to move down from their current price range. Speaking of, we've included this very interesting chart showing how much interest rates effect the price of the home you can buy. 1985 looked pretty gruesome!

Happy Halloween!

Interest rates

September 2015 Eastside Statistics

September 2015 Eastside Statistics