The MReport Webcast: Tuesday 6/6/2016

Federal Reserve Chair Janet Yellen said Monday that the central bank will raise the federal funds rate when economic outlook uncertainties clear the air. Yellen spoke today at the World Affairs Council of Philadelphia and showed that she believes that the Fed will still raise rates this year if and when the economy improves.

Yellen said quote my colleagues and I will make our policy decisions based on what incoming information implies for the economic outlook and the risks to that outlook. What is certain is that monetary policy is not on a preset course, and that the Committee will respond to new data and reassess risks so as to best achieve our goals close quote.

Home prices continued their upward climb in U.S. metros this quarter, but a special occurrence is pushing up prices in Florida markets. Clear Capital’s Home Data Index Market report found that Seattle and Tampa metros hold the top spots for the highest price increases quarter-over-quarter, each reporting an increase of 2 percent for June and rising 12 point 4 percent and 12 point 2 percent year-over-year, respectively. Three other Florida markets also made the list. Florida markets are recovering from the devastating lows of the housing market crash, with an increase in baby boomers in the region.