Lending, Real Estate

Federal funds rate expected to rise by late 2015. Time to buy your home?

As predicted by many economists, the Federal Reserve is indeed considering raising the Federal Funds Rate later this year, Fed Chair Janet Yellen said Friday. In a speech at the Providence Chamber of Commerce in Providence, RI, Yellen said that the Fed is seeing widespread economic improvement and expects that improvement to continue. And if the economy improves as expected, she believes it will be “appropriate” for the Fed to raise the Federal Funds Rate this year, which in turn, would affect mortgage interest rates. . . .