Interest Rate Increases For 2014?
2013-12-09 | 09:25:11
Well, the talk is back about tapering of finanacial support of the bond market by the U.S governement. What does it mean to you? By injecting funds into the market, they keep interest rates artificially low. As they begin to withdraw funds, there will be a rise in interest rates. If you are planning a purchase and rates go up, you will qualify for less mortgage and your payments will be higher. The current expectation is a .50% increase in rates in the first quarter of 2014. You may want to consider getting a rate hold good for 120 days if your purchase plans are going to fit into this time frame to protect yourself against any possible increases if the US governement follows through on their current guidance. Have a great day!