April 18, 2023

Is the interest rate going to go up above 5.5%?

The interest rate has been hovering around 5.5% for some time, but many economists are predicting it will begin to rise soon. With the US economy continuing to grow and the Federal Reserve looking to tighten monetary policy, it's likely that the rate will start to move up. However, it's impossible to predict exactly where it will end up, as there are many factors that can affect the interest rate. The good news is that there are still ways to protect yourself from any potential increases, such as shopping around for the best interest rates and locking in a fixed rate mortgage. Ultimately, the only way to know for sure if the rate will go up is to stay informed and be ready to adjust your financial plans accordingly.