Ninety-nine percent of the failures come from people who have the habit of making excuses.
George Washington Carver
DAILY REAL ESTATE NEWS | MONDAY, SEPTEMBER 16, 2013
The Federal Reserve is expected to announce a tapering of its bond purchase program Wednesday, which could have a big impact on mortgage rates.
The Fed has been purchasing $85 billion per month in long-term U.S. Treasuries and mortgage-backed bonds in a move known as “quantitative easing.” The bond-purchase program has helped to keep mortgage rates at or near record lows in recent years.
On Wednesday, the Fed is to provide clear indication of when it will start scaling back on its bond purchases and by how much.
Nearly 90 percent of 44 economists recently surveyed by USA Today expect the Fed to be cautious at first with its tapering, likely reducing asset purchases by $15 billion or less.
“When the Fed starts to taper, it will only be taking its foot off the accelerator; it will not be stepping on the brake,” says Gary Thayer, chief macro strategist at Wells Fargo Advisors.
However, if the Fed cuts back by more—say, by $20 billion to $25 billion—markets would probably drop on fears of higher borrowing costs. “Stocks could suffer that 10 percent correction on fears housing would get hit, consumers would retrench and the growth outlook would turn negative,” says Jeff Kleintop, chief market strategist at LPL Financial.
Mortgage rates have been steadily increasing since May when the Fed indicated it would likely taper its bond purchasing program in September. Long-term mortgage rates have risen by more than a full percentage point since May. As of Thursday, 30-year fixed-rate mortgages averaged 4.57 percent, Freddie Mac reports. A year ago at this time, 30-year rates averaged near all-time lows of 3.55 percent.
Source: “As Fed ‘taper’ looms, so do market surprises?” USA Today (Sept. 15, 2013) and “Investors Brace for Clarity on Fed’s Taper,” CNNMoney (Sept. 15, 2013)
a little about me and my expertise – video
LAND SPECIALIST – LAND EXPERT – INVESTMENT BROKER – ARIZONA
https://www.youtube.com/watch?v=PPs3kpKR4nY
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Walter Unger CCIM, CCSS, CCLS
I am a successful Commercial Investment Real Estate Broker in Arizona now for 15 years and I worked with banks and their commercial REO properties for 3 years. I am also a commercial landspecialist in Phoenix and a Landspecialist in Arizona.
WHETHER YOU LEASE OR OWN
NOW IS THE TIME FOR YOU TO EXPAND, UPGRADE OR INVEST.
we are at on the a rise of the cycle in Commercial Real Estate. so there is only one way and it’s called we are going up and now is the time for you to expand, upgrade or invest in Commercial Properties in Phoenix. The prices on deals I may get you will not be around forever.
WAITING TO SELL YOUR LAND ? TIMES CHANGE / IT’S TIME
We barely could give land away the last few years, but times are changing. Even in those meager years, I sold more land across the state than most other brokers. Before the real estate crash I was a land specialist in Arizona with millions of dollars of transactions, but then I had to change and also sell other commercial investment properties, which was fun, but I am a Commercial Landspecialist in Arizonal, a Commercial Land Specialist in Phoenix and love to sell land, one acre to thousands of acres.
If you have any questions about Commercial Investment Properties in Phoenix or Commercial Investment Properties in Arizona, I will gladly sit down with you and share my expertise and my professional opinion in Commercial Properties in Phoenix or Commercial Properties in Arizona with you.Obviously I am also in this to make money, but it could be a win-win situation for all of us.
Please reply by e-mail walterunger@ccim.net or call me 520-975-5207 (cell) 602-778-5110 (office direct).
Thank You
Walter
Walter Unger CCIM
Associate Broker
Kasten Long Commercial
2821 E. Camelback Road, Suite 600
Phoenix, AZ 85016
Cell: 520-975-5207
Direct: 602-759-1202
Office : 602-445-4141
Fax: 602-445-4188
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