Wishing you a happy holiday season and health, happiness and prosperity in the new year. 

                                                                                                  
Please take a few minutes to check out all of the information that is available to you in this newsletter. 
Do enter the drawing below!  I feature a business of the month so if you or someone you know has a business in Folsom I will be happy to add it on a rotating basis. 

For more real estate articles click on the National Real Estate Update button at the top of the page. 

Feel free to contact me with suggestions or if you have any questions.

Sincerely,

June Balazs

Representing clients with integrity since 1988

Sacramento, Placer and El Dorado Counties

Service Above & Beyond

Your Referrals are Always Appreciated
 

On Wednesday, December 14 the Federal Reserve raised its key short-term rate by a quarter-point from 0.5% to 0.75%, which is still considered low.  Most banks then raised their prime rate to 3.75% from 3.5%.

It was the first rate hike in 13 months.  For most of the last decade interest rates were untouched, in an attempt to improve the economy after the financial crisis.  If you applied for a credit card or even a mortgage,  these low interest rates certainly helped.  With signs of the economy improving the Fed indicated there may be two or three additional interest rate increases in 2017. 

With the current average 30 year fixed rate mortgage at about 4.16% and the very likely hikes in 2017 I would encourage buyers and sellers to act sooner rather than later.