The Fed and Mortgage Rates What you should know

By
Mortgage and Lending with Service First Mortgage, NMLS #166487 NMLS 217454
Have you heard references to the Federal Reserve or "the Fed" in the news? These reports usually pertain to the Fed's raising or lowering of interest rates. The impacts of a rate decision can vary. Here are a few things to remember: 

  • The Fed sets target rates for bank-to-bank and Fed-to-bank loans.
  • The Fed does not directly control fixed mortgage rates. In fact, fixed mortgage rates can change well in advance as the market anticipates any adjustments. 
  • The prime rate is directly influenced by Fed moves. This rate is often used as the benchmark for interest charged on credit cards, auto loans and Home Equity Lines of Credit (HELOCs). 
What is Up With The Fed and Interest RatesThere's talk that the Fed may raise rates before the end of the year. That may make this a good time to "lock in" a low rate on a purchase if you’re so inclined. Existing owners may want to consider refinancing or combining adjustable rate loans like HELOCs or even consumer debt into one low fixed rate. Consolidating debt is not for everyone, but we're happy to arm you with information as you decide what's right for you.   Please let us know how we can help.

Texas has special rules regarding cash out refinance mortgages.  Visit our Texas Cash Out Refinance page for more details.


Richard Woodward, NMLS 217454

Your Local, Direct, 5 Star Rated Mortgage Lender

Office:  (214) 945-1066

  www.MortgageProsUs.com

Interlinc Mortgage Services, LLC., NMLS 205696

7711 San Jacinto Place, Ste 100 Plano, Texas 75024

 

Licensed by the Texas Department of Savings and Mortgage Lending (SML) Mortgage Banker Registration. InterLinc is an Equal Housing Lender. This is not an offer of credit or commitment to lend. Loans are subject to buyer and property qualification. Rates and fees are subject to change without notice.

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Richard Woodward NMLS#217454

Service Beyond Expectations! Your Texas Lender
7711 San Jacinto Place, Ste 100 Plano, Texas 75024
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