On Dec. 17th the Federal Reserve, and it’s chairwoman, Janet L. Yellen, decided to raise short-term interest rates for the first time since the financial crisis in early 2007. The Fed has stated that they intend to slowly and incrementally continue to raise the rate as long as the economy continues to grow. The 0.25% increase has left many wondering what changes they can expect to the mortgage interest rate market in the near term.
If you are curious about what some of the experts are saying I recommend that you start with this article on “First Tuesday Journal”
You may also be interested to see how the rates have fluctuated by monthly average since 1971 in this post from “Freddie Mac”