Tucson Real Estate Blog

Interest rates on the rise?

Today rates are very close to 6 1/2% for a 30 year conventional loan.  With all the information I am reading expect the Fed to attack inflation again.  They meet this Wednesday and I am betting on another increase in the Federal Funds rate.  This will affect your credit card rates, home equity loans, and surely push home loans up again.  I see us back around 6 3/4% in the next few weeks.  A suggestion to you is get your loan locked in if you are in the mortgage process and have an accepted contract.