The Federal Reserve, in a SURPRISE move yesterday - RAISED their discount rate. The discount rate - this is the rate the Fed charges banks to borrow money from them so the banks can in turn loan money out to everyone - was increased to 3/4%, from their 1/2% target.

This is a sign that the Federal Reserve sees our economy in recovery, and it time to begin to return back to more normal market conditions. This is GREAT news!!

At this point, the Fed is NOT stopping their many other programs and tools they have currently in use to support our economy, but we will be seeing these programs as well being moved to closure over the course of this coming year.

So buyers, don't wait anymore, now is the time to act before. Every day you wait, the risks of higher interest rates and home prices escalate. www.MaryPalma.com