Interest Rates At 5 Year High
The central bank boosted the federal funds rate, the interest that banks charge each other, to 5.25%, the highest level in more than five years. When the Fed started reining in credit two years ago, the rate was 1 percent, the lowest in 46 years.
How does the rate increase effect your ability to get a mortgage? Give me a call or visit my website. I will introduce you to a well-qualified, experienced, knowledgeable loan officer who will answer all your questions.