Interest Rate Update

by Tony Abate · December 5, 2013

Interest rates rose slightly this week on the heels of some upbeat economic news. Investors are showing signs of fear that the Federal Reserve will scale back monthly bond purchases designed to help boost the economy. The bond purchases have helped keep interest rates low and have been used as a tool by the Fed to help bolster the economy. That said, mortgage interest rates remain attractive, with 30 year fixed rate loans available in the high 4% range, & 15 year fixed rate loans available at just under 4%. A great deal of economic data is due out this month, with the most pivotal being the monthly employment report due out on Friday, December 6th. Check back regularly here at michiganmortgagepulse.com to stay on top of changes in the market.