A Friend powered by FreeFind Submit Url Click here for the lowest rates on the web. Homeownerw and buyers have been anticipating this cut for quite some time now and have been poised to lock in rates immediately upon the predicted cut. The Feds previous four rate cuts has had some effect on the economy as well. An unexpected drop in last weeks unemployment claims along with a rise in retail sales figures Testify to this fact.
All evidence points to an economic rebound.
Yet faster growth is breeding concerns over rising inflation and interest rates for 2002. Banks anticipate a basic 6.90 to 7.40 percent range in average interest rates over the summer months. But only the future can tell for sure. Fixed-rate mortgage has been the popular choice of home buyers in America for many years. The ARM's interest rate may rise or fall over the term of the loan.