According to the New York Times, March 7, 2023.

Fixed rate vs adjustable rate mortgage pros and cons.

“Jerome H. Powell, the Federal Reserve chair, made clear on Tuesday that the central bank is prepared to react to recent signs of economic strength by raising interest rates higher than previously expected and, if incoming data remain hot, potentially returning to a quicker pace of rate increases.”

“His comments were the clearest acknowledgment yet that recent reports showing inflation remains stubborn and the job market remains resilient are likely to shake up the policy trajectory for America’s central bank.”

While the Federal Reserve rates are not directly connected to mortgage rates, if one goes up, the other usually does also.

For this reason, if you have been thinking about buying a house, you should do so now instead of later. You can get more house for your money than you will be able to down the road.

The first step is to call Ruth.

If you have questions about a loan, call Ruth. Ruth Schoenherr is a mortgage broker who will help you find home loans in the Clearwater and Tampa Bay area, and serving all of Florida. For more information, go to her web site at www.ClearwaterMortgageBroker.net or call at 727 447-2418.