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Fed Chair Hints at Rate Hike

Fed Chair Hints at Rate Hike

Michael Jensen, Mortgage and Finance Guru
, Mortgage and Finance Guru

Janet Yellen, the chairman of the Federal Reserve, the body that determines interest rates in the United States, gave a speech today in which she indicated that the Federal Reserve is likely to raise interest rates later this year.  Although there are other factors involved, an increase in interest rates by the Federal Reserve typically results in an increase in mortgage rates.  Yellen’s comments did not come as a surprise as the Federal Reserve has been pointing to an increase in rates some time in 2015 but her comments reinforce the idea that mortgage borrowers should expect a rate increase within the next six months.

Although they remain low on a historical basis, mortgage rates have inched up by approximately .25% over the past month.  With a probably rate hike by the Federal Reserve in the not-so-distant  future, now is a good time to start the home buying or refinance process.  Use our Mortgage Qualification Calculator to determine what size mortgage you qualify for and our Refinance Calculator to determine how much money you can save by refinancing.  Additionally, use the INTEREST RATES function on FREEandCLEAR to keep track of mortgage rates for lenders in your area.

The FREEandCLEAR Mortgage Expert

www.freeandclear.com

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Current Mortgage Rates as of May 26, 2019
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Data provided by Informa Research Services. Payments do not include amounts for taxes and insurance premiums. Click for more information on rates and product details.

About the author

Michael Jensen, Mortgage and Finance Guru

Michael is the co-founder of FREEandCLEAR. Michael possesses extensive knowledge about mortgages and finance and has been writing about mortgages for nearly a decade. His work has been featured in leading national and industry publications. More about Michael

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