Fed Official Sees Rates Inching Up This Year

More signs that these low interest rates won’t be around for much longer. All of the major signs are pointing to increased rates by years end. Now the president of the Minneapolis fed is saying the same thing…

Read it all at the WSJ.com:

Fed Official Sees Rates Inching Up This Year

In a interview, Narayana Kocherlakota said he expected “a big upward movement” in core inflation-inflation excluding volatile food and energy prices-from about 0.8% late last year to about 1.3% by year-end.

As a result, he said, it’s “certainly possible” the Fed’s target for short-term interest rates, now near zero, would be lifted by more than half a percentage point late this year.

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This news, along with the decreasing supply of Colorado Bank Owned Properties and Denver HUD homes, means if you’ve been putting off your purchase, now is the time to do it.

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