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Real Estate News Brief: New Fed Policy, Surging Home Sales, Refi Fee Delayed
In this Real Estate News Brief for the week ending August 29th, 2020... the Fed unveils a new monetary policy that will allow higher inflation, home sales surge to the highest level since 2006, and the FHFA announced a delay in the new fee on refinance loans.
We begin with economic news from this past week, and a new inflation control strategy from the Federal Reserve. Fed officials unveiled the new policy this last week after approval by all 17 committee members. The Fed will now shoot for an “average inflation target” of 2%.