Perhaps a better question is HOW to refinance. This week the Fed (FOMC) stayed the course as advertised, raising their Fed Funds rate another 25 bps, their 8th ¼ point increase since late 2015. This takes Fed Funds to 2.00-2.25% range, and Prime to 5.25%. In their public announcement following the Wednesday meeting they reiterated...
Tag: FOMC
Post
COMMERCIAL LENDING UPDATE
The FOMC raised the target federal funds by 25 bps earlier this month to a range of 1.75-2.00 %, and projected a third and fourth rate hike later this year, read that to be Sept and Dec. This sending the prime rate to 5%, and jacking up variable rate loans by ¼ point. The Fed...
Post
FEDERAL RATE INCREASE: EFFECT ON COMMERCIAL LOANS
As expected, the Federal Reserve’s Open Market Committee (FOMC) raised the target range for the federal funds at the most recent Dec. meeting. The rate rose 25 bps to a 1.25-1.50% range, with the move the Fed has now hiked the Fed Funds rate 3 times this past year and five times since they started...