What a rate hike may mean for housing

Source: Union-Tribune   The Federal Reserve’s Open Market Committee is expected to raise a key interest rate that has played a significant part in keeping mortgage rates at historic lows in the wake of the biggest economic downturn since the depression. If the rate hike transpires, it would be the first since June 2006. As for the effect on housing, interest rate increases will be gradual, and there are too many other forces pushing prices upward in the state, such as low supply and high demand. Read the full story