The question on everyone’s mind for quite some time was “when is the Federal Reserve going to raise interest rates?” We’ve been asking that question for about 6 ½ years. As it turns out and I’m happy to report, our decision makers at the Federal Reserve Bank that meet 8 times a year aren’t doing it in a Frat House type of environment, flipping a coin on what direction to go. After recently listening to the President & CEO of the Federal Reserve Bank in Chicago we can be assured that there is a little more to it than that. There is a number of determining factors that go into this decision, but how it affects you when deciding to purchase a home is what we want to go over.