The Fed is rasing interest rates and so will other financial institutions….
This is a effort to control inflation and it’s gonna do what it’s supposed to due….
Cool off the economy…..
Just at a time when tax cuts and government spending are increasing…..
Consumer’s will have to pay more to borrow money….
That means LESS spending….
Hmmmmm?
Long-term U.S. mortgage rates jumped this week to their highest level in nearly four years, a sign that the prospect of higher inflation is steadily increasing the cost of borrowing to buy a home.
Mortgage buyer Freddie Mac says the average rate on 30-year, fixed-rate mortgages rose to 4.38 percent this week, up from 4.32 percent last week and the highest since April 2014.
The rate on 15-year, fixed-rate loans rose to 3.84 percent from 3.77 percent last week.
Recent wage gains and rising prices are stoking concerns about inflation picking up, which has caused investors to seek higher interest rates. Mortgage rates are closely aligned with the yield on 10-year U.S. Treasury notes, which has climbed above 2.90 percent from 2.78 percent just two weeks ago….