For the full implications of the Fed’s decision, see Quartz’scomprehensive explainer from Tuesday (Dec. 15). But right now let’s narrow the focus: What does an increase in the federal funds rate mean for your mortgage?
If you’re a home owner with a standard 30-year fixed-rate mortgage:
Nothing! That’s the beautiful thing about the “fixed rate”
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Neal Paskvan is a full time Realtor specializing in Downers grove, Darien,Woodridge, Westmont and Du page county Real Estate
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