If you read financial headlines, you’ve no doubt seen the news that the Federal Reserve is raising interest rates. These headlines can be accompanied with all sorts of hyperbole about the end of the stock market, the boom of bonds or any of a dozen other possible predictions. It’s easy to get overwhelmed when there’s this much information and so much of it is conflicting. Let’s set the record straight on what rising prime interest rates mean for you.
If you're mortgage shopping, you may be overwhelmed by the number of options. Dozens of lenders, each with their own rates, terms, conditions and costs, can make the decision feel that way. But it doesn't have to be that difficult! The choice of which mortgage to go with starts with a simple question: fixed-rate or adjustable?