Time for RISING intrest rates???
Inflation seemingly out of control.
Fed starting to talk tough.
Market starting to price in a rate increase.
NEW YORK (MarketWatch) -- Fixed mortgage rates rebounded in the past week, according to Bankrate Inc.'s survey released Thursday. The average conforming 30-year fixed mortgage rate rose to 6.20% from 6.02% a week ago, while the average 15-year fixed mortgage increased to 5.80% from 5.63% a week earlier. Adjustable mortgage rates also climbed, with the average 5/1 ARM rising to 5.86% from 5.71% last week.
In an already slowing economy burdend by record debt, what effect will rising rates have on the country?