Interest Rate Hiked

The Federal Reserve raised a key interest rate yesterday by a quarter percentage point to 5.25%, and signaled that further rate increases would depend on the outlook for inflation and growth.

The increase probably won't have much effect on mortgage rates. What will be effected is existing adjustable rate mortgages and home equity lines of credit which are directly tied to the federal funds rate.

If you think it is time to review the debt structure on your home, contact me or visit my website. I can introduce you to experienced, knowledgeable, well-qualified loan officers.