“Why Keep Talking About Raising Rates?”
The Fed decision makers have been talking about raising interest rates for a long time; stop all this madness and just raise the damn rate already. If a quarter of a percent interest is going to be an end to our economy, so be it. The truth is it won’t even be a blip on the radar when it comes to mortgages.
Let me tell you where the real impact is going to be, it is interest that we pay on the 19 plus trillion dollars that we owe on our National debt. Since the new budget deal was passed there will be little reason not to increase rates.
Back to mortgages, the anticipation of an increase in rates has already been factored into mortgage rates at this point. There will be some movement, but not enough to deter anyone from buying a home or refinancing.
What do you think the Fed is going to do next month?
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Joe Petrowsky, NMLS #6869
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