The Fed Funds rate has been at 0% for some time. Since 2010, it has been at or near 0%. Historically, the rate has never been so low.
Now that the market has recovered from the most recent recession which started October 2008, there has been talk of raising it. There is no telling when this will happen, but it has been discussed to raise it sooner than later.
In raising the Fed Funds Rate, interest rates will rise. The banks borrow money from the Fed at this amount, so in turn interest rates that the bank charge will increase this amount at minimum.
Let me know if I can help you or anyone you know purchase a home and secure these historically low rates for 30 years!
If you would like to know what interest rate you qualify for, please do not hesitate to email/call me anytime.
Image presented from https://en.wikipedia.org/wiki/Federal_funds_rate.
Kenzie Kipper, 425-765-4432, Kenzie@KenzieRealty.com