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 indication that they will begin to taper these purchases, then this could cause interest rates to rise. However, many economist believe that the economy is still too weak for the Federal Reserve to cut back their bond purchase program. Check back here, or follow my Twitter account @TonyAbate6 to receive up to the minute news on this topic.
Ross Mortgage Corporation
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