Are you thinking about buying or selling a home-Think Fast- and not for long. The fed raised it’s rates again.
From the NY Times Dec 14, 2016….
“In general, movement of the Fed’s rate does not have a large, direct impact on long-term mortgage rates. But when the Fed’s rate goes up, banks find ways to pass their higher borrowing costs along to consumers.
And because long-term mortgage rates are set in stone, they also factor in the anticipation of future rate increases. That’s part of why mortgage rates have been shooting up in recent months: The Fed has suggested that interest rates are likely to continue rising for years.”