Is the Fed preparing to raise interest rates next month?? Will the prediction prompt a stampede to buy houses/condos?
Is the U.S. economy well enough along the comeback trail or is the country’s unemployment rate of under 6% a illusion? Economic boosters say that adding jobs at 200,000 a month as we’ve seen lately calls for a boost in prime lending rates from the Fed – which would drive up mortgage costs and any other financial activity that requires substantial amounts of borrowing. Detractors say the quality of those jobs and generally depressed wages for most workers means the economy has not recovered like it has after previous recessions. And because of that the Fed ought to continue its long running near zero borrowing rate.
Here’s more in the Oregonian. Click here.