After months of speculation, the Federal Reserve has raised interest rates. What does that mean for you? Here’s a great overview from Spencer Lewallen and Pinnacle Capital Mortgage: First, let’s give a little background on the Fed: . The Federal Reserve Board (the Fed) controls rates on overnight loans from bank to bank or from the Fed to member banks. …
What Drives Mortgage Interest Rates?
Have you ever wondered why home loan rates fluctuate the way they do? Though it may seem arbitrary, there are a number of forces at work on the interest rate picture. Jason Pike of First Mortgage Company recently sent me this quick overview I thought was a helpful way to understand all the different factors that can impact interest rates. …