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Fed says “no bump in interest rates” (yet)

A closely watched statement from the Federal Reserve this week set the stage for the central bank to pivot away from its longstanding near-zero interest rate policy and potentially begin to make gradual interest rate hikes in mid-2015.

 

A point (up in rate) on an $750k mortgage ($1M purchase) will definitely impact a lot of buyers in San Francisco.  Currently, $1M is pretty close to entry level with most single family homes in C+ or better areas starting in the ~$1.5M range.

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