No news through the Fed is great news for homebuyers and home owners.
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The Federal Reserve has decided rates of interest are good right where they've been — and that should really be fine with homebuyers and home owners who've been searching into a few of the mortgage rates that are lowest in years.
After their meeting that is first of, policymakers at America's main bank stated they made a decision to make no alterations in their benchmark rate of interest but would always maintain a watch on "global developments. "
The prime rate will hold steady, along with other rates that are tied to it as a result. Plus, the Fed has not done such a thing home loan borrowers should be worried about.
Just exactly exactly What the Fed did (or did not do)
The Fed controls something called the federal funds rate, which can be the attention price banking institutions charge one another for instantly loans.