Federal Reserve Hike Rates

  • December 17, 2015

On Wednesday, December 16, 2015, the Federal Reserve officially announced they would gradually increase interest rates to a range of .25% to .50%.
The Fed raising the rates 25 basis points marks the first rate hike in nine years. The Fed felt comfortable raising the rate at this time due to the fact that November recorded steady growth in jobs and the economy has been on a steady if not upward trend.
This rate hike had been discussed at earlier Fed meetings this year. Due to the recent activity in the economy as well as the housing market maintaining a steady number of applications even during the winter months, the Fed had hinted at a rate hike being announced during its December meetings. The industry has been preparing for such an announcement by raising rates slightly earlier this week.
This rate hike is said to be the first in a series of hikes to be implemented throughout 2016.
Talk to a Loan Officer today for more information.

  • Facebook Icon
  • Linked In Icon
  • Twitter Icon
  • Google Plus Icon

Latest Tweets

© CMG Financial, All Rights Reserved. CMG Financial is a registered trade name of CMG Mortgage, Inc., NMLS ID #1820 in most, but not all states. CMG Mortgage, Inc. is an equal opportunity lender with corporate office located at 3160 Crow Canyon Road, Suite 400, San Ramon, CA 94583 888-264-4663. Licensed by the Department of Business Oversight under the California Residential Mortgage Lending Act No. 4150025; AK #AK1820; AZ #0903132; Colorado regulated by the Division of Real Estate; Georgia Residential Mortgage Licensee #15438; Illinois Residential Mortgage Licensee; Kansas Licensed Mortgage Company #MC.0001160; Massachusetts Mortgage Lender License #MC1820 and Mortgage Broker License #MC1820; Mississippi Licensed Mortgage Company Licensed by the Mississippi Department of Banking and Consumer Finance; Licensed by the New Hampshire Banking Department; Licensed by the NJ Department of Banking and Insurance; Licensed Mortgage Banker – NYS Department of Financial Services; Ohio Mortgage Broker Act Mortgage Banker Exemption #MBMB.850204.000; Licensed by the Oregon Division of Financial Regulation #ML-3000; Rhode Island Licensed Lender #20142986LL; and Licensed by the Virginia State Corporation Commission #MC-5521. CMG Mortgage, Inc. is licensed in all 50 states and the District of Columbia. Offer of credit is subject to credit approval. For information about our company, please visit us at www.cmgfi.com. To verify our complete list of state licenses, please visit www.cmgfi.com/corporate/licensing and NMLS Consumer Access (http://www.nmlsconsumeraccess.org/EntityDetails.aspx/COMPANY/1820).