The Senate Banking Committee today approved Janet Yellen to be the next Federal Reserve Chair clearing the way for her vote to go to the full senate later in December. She will be confirmed. So what's it going to mean for home buyers and sellers in 2014? Despite the rumblings from various Federal Reserve Governors, I think it's unlikely that the Fed will scale back QE which is the driving force behind really low home mortgage rates. Barring geopolitical events unseen, if Ms. Yellen is approved the Spring of 2014 will be the wild wild west for housing. Last year home buyers were playing whack a mole trying to find a home to buy. It may be more intense this Spring in our market and many others. Is it good that we could continue to print 85 million per month and insert in into our economy? The current power in party seems to think so. Time will tell for the money yoda and for our future.
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