What’s Going to Happen with Interest Rates?

Filed under: Mortgage News

Nearly every day I get asked the question “What’s going to happen with interest rates?”

The truthful answer is that no one can really predict when or if interest rates will go up or down. But I think it’s worth noting that when we hear talk of the Federal Reserve Board raising interest rates, they aren’t referring to mortgage rates.

The Federal Funds Rate is the interest rate controlled by the “FED” and it affects things like the Prime Interest rate, credit card rates, and rates on Home Equity Lines of Credit (HELOC). So while a FED rate hike could cost you money on other forms of credit that you have, it doesn’t directly affect long term loans such as mortgages.

Check out my video below for more information and feel free to contact me if you have questions or would like to further discuss the topic of interest rates.