ST. LOUIS, Mo. (KMOX) – The Federal Reserve announced Wednesday it will continue its bond buying program, and real estate experts say that is good news for the housing market.
Mortgage rates have risen in the past few months putting a slight crinkle in the slowly improving St. Louis market.
“It did make a difference for buyers when interest rates when up,” said Realtytrac Vice President Daren Blomquist. He says that may have affected the Federal Reserve’s decision.
But Blomquist says he thinks the market will be able to withstand the hit when the fed begin to taper its bond program, but for now this means its still a good time to buy or sell a home.
“They’re going to have to pull off this band-aid at some point, they’ve continued to delay that but everybody is excising an abundance of caution,” said Blomquist.