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Feds just raised the prime rate. What does that mean for mortgage rates?
December 15th, 2017 5:52 AM by Jeremy Schachter - Mortgage Advisor NMLS 148435
Feds just raised the prime rate. What does that mean for mortgage rates?
Whenever the Feds raise the prime rate like they did the other day, I get many calls if mortgage rates also increased. There is no direct correlation between the two. However, when the Feds raise the rates it is an indication that the economy is doing better, which in turn will have an eventually impact on mortgage rates.
Check out this great article from USA Today on the impact of mortgage rates and other items that will increase. Click
here
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Posted by Jeremy Schachter - Mortgage Advisor NMLS 148435 on December 15th, 2017 5:52 AM
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