Homeowners Living Farther From Their Work

The typical American commute continues to get longer and longer. The average commute time grew to 26.4 minutes, according to the latest numbers from the U.S. Census Bureau. Multiplied out, the average American spends about three hours and 20 minutes longer getting to and from work than they did in 2014. Our ‘Sierra Foothills’ locations are great for Sacramento commuters! (See our Videos)

Even longer commutes than that are the norm for many workers. The number of workers with 45-minute commutes increased to 3.5 percent and the number of hour-long commutes increased to 5.1 percent. Workers with extreme commutes — 90 minutes or more — grew by the fastest rate of all, to 8 percent.

One potential future bright spot for workers faced with longer commute times is the gradual growing acceptance of remote working. About 4.6 percent of workers, or 6.8 million, worked from home in 2015, according to U.S. Census data. That is a 5 percent increase since 2014.

Source: “The American Commute Is Worse Today Than It’s Ever Been,” The Washington Post (Feb. 22, 2017)

Where are “Home Interest Rates” Heading?

The Federal Reserve doesn’t traditionally make a point to reveal its predictions for future actions on interest rates widely known to the public — that is, until recently. This summer in a rare step, the Fed announced that it would keep short-term interest rates at nearly zero until 2013. The Fed may start making it a tradition to reveal more with a regular forecast of its future decisions on interest rates. 

The Fed may consider adopting such a move at its Tuesday meeting, but if it does adopt an action, it most likely wouldn’t be announced to the public until January, The New York Times reports. 

According to a recent article, the minutes of the Federal Reserve committee’s last meeting in November revealed that “participants generally expressed interest in providing additional information to the public about the likely future path of the target federal funds rate.”

If the Fed adopted a forecast, it likely would predict where interest rates are heading for the next three years, and it would be similar to the forecasts it already publishes about economic growth, unemployment, and inflation four times each year, The New York Times reports. 

 Source: “Fed to Weigh Publishing a Forecast on Rates,” The New York Times (12/ 11/11)

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