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U.S. Interest Rates Expected to Rise in March

Posted by Mike Askins on Thursday, March 2nd, 2017 at 10:00am.

The monthly cost of home ownership, via higher mortgage interest rates, is expected to rise later this month when the Federal Reserve convenes to review current economic activity and interest rate policy. Experts anticipate the Fed will have no choice but to raise rates again. Since September, the Federal Funds Rate has increased by 0.5%. March's increase will mean the Federal Funds Rate will rise to 1%. During the recession of 2008/9, the Federal Funds rate dropped to just 0.25%.

Historically speaking, today's mortgage interest rates are still very low, however with economic forecasts heating up, price inflation becomes a threat to economic stability and hence a higher cost of borrowing is generally the tool used to combat inflation. Experts are signaling that a series of interest rate increases in 2017 can be expected.

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Mike Askins

Mike Askins, Realtor, Owner ARG, 20 Years of Client Services
Got questions for Realtor Mike? Call me at 214-727-3686 (mobile)

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