Category: market

Mortgage rates are up slightly this week, in response to the Federal Reserve’s decision to “taper” their bond purchase program that has been in place for some time now. The Fed had been doing this in an effort to keep interest rates low & to help strengthen the economy. A 30 year fixed rate loan with “0” points is now in the high 4% range, while a 15 year rate is hovering right around 4.0%. This news from the Fed, while it does result in somewhat higher rates, is not all bad news for those of us interested in housing....

Interest rates were flat to slightly higher throughout this past week. A 30 year fixed rate loan with no points being charged is still in the mid to higher 4% range, while 15 year fixed rate loans are just under 4%. Markets appear to be awaiting the outcome next week’s Federal Reserve meeting, which will wrap up on Wednesday, December 18th. There is again the idea that the Fed will begin cutting back it’s bond buying program, in which the Federal Reserve purchases over $80 billion in treasury securities. These purchases help to spur the economy by keeping interest rates low. If there is...