It's already been clear that 2017 was a banner year for residential real estate sales. But when it comes to projections for 2018 and a spring home sales season that's already underway, certain factors could cause the year to turn out quite differently.
The yield on the 10-year U.S. Treasury note hovers just above 3% as we write. It hasn’t hovered this high since December 2013. Rate quotes on a prime 30-year fixed-rate conventional mortgage hover between 4.625% and 4.75%. They haven’t hovered this high in four years.
The latest meeting of Federal Reserve officials came and went on Wednesday. The meeting came and went as anticipated. Fed officials held the range on the federal funds rate – an influential overnight lending rate – at 1.5%-to-1.75%.