Rates were expected to rise this month, but the Federal Reserve announced that it will remain unchanged for now.
The Houston Business Journal reports that for housing markets such as Houston’s, “which is becoming less affordable and where home sales have fallen flat in recent months, the Fed's decision to delay the rate hike might be the boon it needs.”
"Once (the Fed) increases interest rates, potential home buyers might think 'Oh, I need to buy a house before the rates go up higher,'" Senior Economist for BBVA Research USA, Kim Chase, told the Houston Business Journal.
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