Mortgage interest rates can change daily, and even multiple times per day. Do you ever wonder why this is the case? Maybe you wonder how you should know when to lock a rate?Get Matched with a Lender, Click Here.Keep reading to learn about changing interest rates and how they Read more
Fed Defers Rate Hike as CPI Remains Unchanged
The Federal Reserve (Fed) decided to keep the target range for the federal funds rate between 1 and 1.25 percent. This is in line with its economic data which shows inflation running below its targeted 2% threshold and as confirmed by the Consumer Price Index that remained unchanged on a seasonally Read more
Experts: Lock Mortgage Rates Now as Fed Rate Hike Looms
Minutes of the Jan-Feb FOMC meeting revealed that the Fed could raise the federal funds rate fairly soon, subject to its labor market and inflation benchmarks. When the Fed does, expect the interest rates on consumer products like mortgages to move along. The first of its projected three rate hikes Read more
How Does the Federal Funds Rate Affect Interest Rates?
Contrary to popular belief, the Fed does not control your mortgage interest rates. They control the federal funds rate, which is indirectly related to interest rates. The funds rate is the rate the banks charge each other when borrowing funds from one another. This rate can fluctuate throughout the Read more
