Home Mortgage Financing

The Fed is Signaling That Interest Rates May Rise in June

The Federal Reserve is signaling that it may increase interest rates in June, which would be the first rate increase since 2006.  This information was released with the minutes from the Fed's mid-March policy meeting.  Also in the minutes was an indication that once the started raising rates, they would continue to do so in a gradual manner.

The average fixed-rate mortgage interest rate is 3.7% this week, which is near historic lows.  

Perhaps the hint of rate hikes will cause a flurry of buying this Spring as buyers try to lock in their mortgage rates before they go up.

Read more about it:  Fed: Interest Rate Hikes Likely in JuneIn two months, the Federal Reserve will likely start raising rates, a move it hasn't taken since 2006. 

[NAR Daily News Magazine]

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