RisMedia reports on possibilities of Interest Rate hike ...

A rise in the key interest rate could come “relatively soon,” Federal Reserve Chair Janet Yellen reiterated on Thursday, heightening the probability the Fed will forge ahead with a hike in December, despite initial doubts in the wake of Donald Trump’s presidential victory. Mortgage rates, which generally follow the key rate, shot up this week, with the 30-year fixed rate mortgage topping out at an average 3.94 percent from 3.57 percent the week prior.
“This week, the verdict is in—over the last two weeks, the 30-year mortgage rate jumped 40 basis points to 3.94 percent, almost identical to the 39 basis point increase in the 10-year Treasury yield,” says Sean Becketti, Freddie Mac’s chief economist. “If rates stick at these levels, expect a final burst of home sales and refinances as ‘fence sitters’ try to beat further increases, then a marked slowdown in housing activity.”

Yellen’s position—which comes as the dust settles after one of the most contentious elections in history—reinforces the sentiments of Federal Reserve Bank of Philadelphia President Patrick Harker and Federal Reserve Bank of St. Louis President James Bullard, who both voiced support for future hikes this week.

Yellen also echoed the Fed’s intent to only gradually raise the key rate. The Fed last raised the rate in December 2015.

2016 Daylight Savings Ends

Before retiring Saturday night you'd be well served to adjust all your clocks, watches, microwaves, ovens, VCR's and anything else with an ability to tell you what time it is or function on a schedule you have determined ... You will probably hear this twenty times on the news, radio etc ... and at the same time consider changing the batteries in all the clocks, remotes, garage door openers, smoke detectors, carbon monoxide detectors (these last two you might consider changing to the new 10 year sealed battery model) adjust the timers for your landscape lighting and whatever else comes to mind; and while you are at it, your landscape watering doesn't need to activate numerous times per day. That is only necessary when you re-seed. A good deep watering once a day in the morning is all that's necessary and will make your lawn more drought resistant. CVWD has a lot of tips for the proper amounts of run times for your sprinklers throughout the year. Anymore than that is wasted running down the street, evaporating or just getting the sidewalks wet. As always - Keep the faith!