Rate Hike no Concern for Freddie's Chief Economist

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Posted To: MND NewsWire

Freddie Mac is dismissing concerns of some analysts that the change in the Federal Reserve's monetary policy may bode ill for the housing industry. The company's vice president and chief economist Sean Becketti welcomed the New Year with an upbeat rebuttal of those concerns on Freddie Mac's Executive Perspectives blog. Becketti said that he does not share the worries about the December hike in the fed funds interest rates boosting mortgage rates, reducing home affordability, or reversing the recent improvements in housing numbers. He cites several reasons for his view. The Federal Reserve is aware that the economic recovery remains fragile and has committed to a policy of gradual monetary tightening. They should be taken at their word, Becketti says, and we should expect only a few modest increases...(read more)

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Source: http://www.mortgagenewsdaily.com/01042016_interest_rate_freddie_mac.asp

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