{"id":13863,"date":"2018-08-03T11:42:51","date_gmt":"2018-08-03T11:42:51","guid":{"rendered":"http:\/\/www.anthonydidonato.net\/wordpress\/?p=13863"},"modified":"2018-08-03T11:42:52","modified_gmt":"2018-08-03T11:42:52","slug":"fed-leaves-rates-alone-but-hints-at-future-hikes","status":"publish","type":"post","link":"https:\/\/www.anthonydidonato.net\/wordpress\/fed-leaves-rates-alone-but-hints-at-future-hikes\/","title":{"rendered":"Fed Leaves Rates Alone But Hints at Future Hikes"},"content":{"rendered":"

Fed Leaves Rates Alone But Hints at Future Hikes<\/h1>\n
\"Fed<\/a>

Fed Leaves Rates Alone But Hints at Future Hikes<\/p><\/div>\n

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The Federal Reserve decided Wednesday to hold off on raising its short-term interest rates. But it hinted that it likely will deliver its third interest rate increase of the year at its next meeting in late September. The Fed\u2019s key rate does not have a direct impact on mortgage rates, but it usually influences them.<\/p>\n

\u201cEconomic activity has been rising at a strong rate,\u201d the Fed\u2019s statement read. Economic output rose at a 4.1 percent annual rate in the second quarter, which is the highest three-month increase since 2014.<\/p>\n

In June, the Fed had raised its benchmark rate to a range between 1.75 percent and 2 percent. On Wednesday, it voted unanimously to keep the rate at 2 percent. The Fed has hinted at two more increases before the end of 2018.<\/p>\n

\u201cThe cost of borrowing has increased, whether you are dealing with mortgage loans, auto loans, student loans, or credit cards,\u201d Ric Edelman, co-founder and executive chairman of Edelman Financial Services, told CNBC. \u201cIt\u2019s more expensive now than it was a month ago and it\u2019s projected that it will get higher still.\u201d<\/p>\n

The economy, the Fed, and inflation all have an influence over long-term fixed-rate mortgages. Mortgage rates have already been on the rise, with the 30-year fixed-rate mortgage averaging about 4.71 percent, up from 4.09 percent in 2015, CNBC reports.<\/p>\n

Those with adjustable-rate mortgages or home equity lines of credit will also be affected. Greg McBride, chief financial analyst at Bankrate, recommends those with ARMs to refinance into a fixed-rate mortgage that will likely offer a lower rate than what an ARM will adjust to later this year. Homeowners with HELOCs, McBride adds, may want to ask their lender to freeze the interest rate on their outstanding balance or consider refinancing into a fixed-rate home equity loan (note that there are caps\u00a0on how much owners can access).<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n

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\u201cThe Fed Didn\u2019t Raise Rates. How to Prepare for the Next Hike<\/a>,\u201d CNBC (Aug. 1, 2018) and \u201cFederal Reserve Holds Rates Steady, Says Economy Is Strong<\/a>,\u201d The Wall Street Journal (Aug. 1, 2018) [Log-in required.]<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Fed Leaves Rates Alone But Hints at Future Hikes The Federal Reserve decided Wednesday to hold off on raising its short-term interest rates. But it hinted that it likely will deliver its third interest rate increase of the year at its next meeting in late September. The Fed\u2019s key rate does not have a direct … <\/p>\n

Continue reading<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[16,8],"tags":[5,32,4,9],"class_list":["post-13863","post","type-post","status-publish","format-standard","hentry","category-news","category-real-estate-tips","tag-anthony-didonato","tag-news","tag-real-estate","tag-tips","item-wrap"],"yoast_head":"\nFed Leaves Rates Alone But Hints at Future Hikes - Real Estate Agent and Sales in PA - Anthony DiDonato Broomall, Media, Delaware County and surrounding areas in Pennsylvania<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.anthonydidonato.net\/wordpress\/fed-leaves-rates-alone-but-hints-at-future-hikes\/\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/fed-leaves-rates-alone-but-hints-at-future-hikes\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/fed-leaves-rates-alone-but-hints-at-future-hikes\\\/\"},\"author\":{\"name\":\"admin\",\"@id\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/#\\\/schema\\\/person\\\/964792b6994e8cc4cbddc36ad4824908\"},\"headline\":\"Fed Leaves Rates Alone But Hints at Future Hikes\",\"datePublished\":\"2018-08-03T11:42:51+00:00\",\"dateModified\":\"2018-08-03T11:42:52+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/fed-leaves-rates-alone-but-hints-at-future-hikes\\\/\"},\"wordCount\":372,\"publisher\":{\"@id\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/#\\\/schema\\\/person\\\/964792b6994e8cc4cbddc36ad4824908\"},\"image\":{\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/fed-leaves-rates-alone-but-hints-at-future-hikes\\\/#primaryimage\"},\"thumbnailUrl\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/wp-content\\\/uploads\\\/2018\\\/08\\\/08032018.jpg\",\"keywords\":[\"Anthony DiDonato\",\"News\",\"Real Estate\",\"tips\"],\"articleSection\":[\"News\",\"Real Estate Tips\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/fed-leaves-rates-alone-but-hints-at-future-hikes\\\/\",\"url\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/fed-leaves-rates-alone-but-hints-at-future-hikes\\\/\",\"name\":\"Fed Leaves Rates Alone But Hints at Future Hikes - 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