By Melissa Dorman, June 25, 2021
Federal Reserve officials said last Wednesday that they expected to raise interest rates from rock bottom sooner than they had originally forecasted. They are slowly reducing their bond purchases, which shows their increasing confidence that the economy will rebound after the pandemic.
By the end of 2023, policy makers expect to make 2 interest rate increases. Before, over half of the officials had anticipated rates would remain close to zero. That is where they have been since March 2020. And were expecting to stay until at least 2024 to allow the economy to recover. Officials now see rates rising to 0.6 percent by the end of 2023, up from 0.1 percent.
Lenders often increase their rates based on the federal reserve. An increase in the federal reserve rate will likely translate to interest rates rising as well. Fortunately, anyone in the market right now is still experiencing record low rates for the near future.
Broker | OR & WA
Ten years ago, Melissa was living in a slum in Kolkata, India, helping over 200 women escape sex trafficking by providing alternative work at a social business.
It was there she discovered her passion for financial education as a means of empowering people to move out of poverty. After graduating from UCLA with a Masters, Melissa spent 5 years working as a Social Worker; assisting clients facing homelessness, in jail, or at a psychiatric facility.
As much as she loved the work, imagining saving for retirement on the meager salary of a social worker was becoming grim. That's when Melissa discovered "passive income." In no time, she fell in LOVE with real estate as a vehicle for wealth. Soon after, Melissa began locating off-market multi-family properties to purchase through creative financing strategies and win-win opportunities. Two years into investing, Melissa quit her day job as a Social Worker to become a full-time broker and investor. Initially, she was drawn to people in difficult circumstances, so she developed extensive experience assisting families facing foreclosure, short sales, and probate. Melissa is well versed in helping her clients overcome complex real estate challenges.
Currently, Melissa is teamed up with Super Broker, Yascha Noonberg at Living Room Realty. Together they assist clients to achieve their real estate dreams, including how to strategically buy and sell a personal residence to maximize profits. Far from the slums of Kolkata, her greatest passion now is empowering other working professionals to develop passive forms of income through buying multi-family properties in Portland.
Broker | OR & WA