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It's official, on Wednesday the Federal Reserve approved the first interest rate hike since 2018. This will be a hike of 0.25%. They also gave some insight of what to expect regarding where they plan to take rates in the near future. According to CNBC, "the committee also penciled in increases at each of the six remaining meetings this year, pointing to a consensus funds rate of 1.9% by year’s end. They also see three more hikes in 2023 then none the following year."
With this information being laid out for us in regard to where rates are going in the future, it is absolutely safe to say that waiting to make that downsizing/upsizing move or that refi will cost more and more every single day.
Don't get stuck paying more in interest payments! Reach out to me today and I will help you get where you need to be before rates go any higher!
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