The question I get asked most often, whether I’m having a beer or sitting at an open house, is “do you think they’re going to raise rates anytime soon?” Of course most of them are talking about mortgage interest rates, trying to predict the future and get the best possible rate for their loan. But, I also wonder if it’s such a topic of interest because of confusion between the federal interest rate heard in the news and the mortgage rates you and I borrow money on? I’m here today to clear up the confusion, and explain the difference between the two.
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