Wednesday, November 10, 2004

Mortgage Rate Watch - Rate Shopping Tips
The News:Fed Boosts Interest Rate One-Quarter Point The Federal Reserve hiked a key short-term interest rate by one-quarter percentage point Wednesday, the fourth increase this year.It's part of a credit tightening campaign to bring rates back up to more normal levels now that the economy's recovery from the 2001 recession is more deeply rooted.

Tip of The Day
Mortgage rates are likely to continue climbing if the bond market anticipates more rate hikes. 1 year adjustable rate mortgage will feel the impact of a rate hike. Home equity loans, HEL's, are notimpacted by rate hikes.To find loan programs and lenders that may fit your criteria.