Federal Reserve Raises Short Term Interest Rate
Tupper Briggs
Tupper began his real estate career in 1973 and has earned every accolade from the National Association of Realtors available over the years...
Tupper began his real estate career in 1973 and has earned every accolade from the National Association of Realtors available over the years...
Citing a bright economic outlook, the Federal Reserve last week raised its key short-term interest rate by ¼% and signaled it may do so three more times this year. While the Fed’s action doesn’t automatically boost mortgage rates, they should rise in response soon. A ¼% increase on a $500,000 loan will cost over $40/month. Homebuyers should consider buying sooner than later as both interest rates and prices are sure to rise in the future.