Update: Interest Rates & Bay Area Job Market

On June 13th, the Fed increased the reserve rate from 1.75% to 2%. The Fed hinted at two more increases by the end of the 2018. The reserve rate in a nutshell directly impacts what banks and lenders can borrow money from the Federal Reserve which can have a downstream effect on mortgage interest rates.

This activity shows the Fed's confidence in the US Economy. The last time the Fed rate was 2% was the summer of 2008 - which was adjusted down to 0% for many years due to the Great Recession. The days of super low interest rates have gone.  Read more with the New York Times. 

Meanwhile per the Mercury News, Bay Area jobs have increased by 11,900 which accounts for one-third of the increase in California jobs. The California unemployment rate is at 4.4% which has not been as low since 1976.