When you hear about a mortgage rate hike, you can expect the buzz of anticipation and panic.
But for some, there’s a much simpler explanation: mortgage rates are just too high.
And that explanation is not that different from the one offered by the Federal Reserve.
The Federal Reserve, which has been pushing to raise interest rates for a decade, is doing just that.
According to the latest Federal Reserve data, the Fed raised its benchmark rate to an annual average of 0.25% last month, a slight but steady rise over the past two years.
But with the economy now expanding at a 3.6% annual rate, that’s far from a stellar number for the U.S. economy.
In fact, a recent study from the National Bureau of Economic Research found that the U,S.
is on track to lose another $100 billion in annual GDP growth over the next decade.
While interest rates may not be what they once were, the U’s growth outlook is not a recipe for an overreaction to rising mortgage debt.
And there are good reasons for why rising rates are not exactly a good thing for Americans.
A few things to keep in mindWhile the U S. economy has slowed over the last few years, the country is still projected to add another trillion dollars to the national debt in the coming years.
In fact, if the Federal reserve is successful in raising rates in 2017, the federal government will have to borrow at least $1.4 trillion to balance the budget.
That means a rate hike in 2017 could have an impact on the U s economy far beyond its immediate impact on consumers and businesses.
The first thing you need to understand is that the average rate of interest is not just one number to focus on.
While interest rates are a fairly accurate measure of the economy, they also have a much broader meaning.
While a 1% increase in interest rates has a significant impact on our economy, there are many other things that affect how we spend our money, how we manage our finances, and how we live our lives.
As the chart below from the Federal Housing Finance Agency shows, there have been a number of major changes in the way we buy and use property over the years.
The chart shows that the number of homes we own has decreased, but that doesn’t mean we are going to stop using them.
The chart also shows that many of the people who have owned homes before are not going to be purchasing them again, and that we are still in the process of building new ones.
This chart is just one of many that explain why there is so much concern around rising interest rates.
When it comes to mortgage rates, there is a lot to consider, so we will be bringing you a series of posts throughout the week about how to get the most out of your mortgage.
If you have any questions about these topics, feel free to reach out to us at [email protected]