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Assisting small business owners and commercial real estate investors with the financing needed to accomplish their goals!

The odds of another rate hike before year end is high!

According to Bloomberg World Interest Rate Probability data, the odd of another rate hike in the US by the Federal Reserves is 76.7%!

Should you be considering locking in a mortgage rate, you may wish to do so sooner than later.

The US prime rate stayed at 3.25% from December 16, 2008 until December 15, 2015, a stretch of 7 years!! The prime rate was then increased to 3.7% last December 15, and 2017 has witnessed two increases in the prime rate, to 4% March 16, 2017 and to 4.25% June 15, 2017. Should the Fed raise the fed funds rate again before year end, I would anticipate another .25% increase, which in turn would lead the US prime rate to 4.5%. Even with the increases we have seen, the rate is still incredibly lower than the all time high in the US prime rate of 21.5% set Decemmber 19, 1980!!!

Here is a link to a history of where the US prime rate has been over the years.

http://www.fedprimerate.com/wall_street_journal_prime_rate_history.htm

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Ralph

About the author, Ralph

During my first 20 plus years in the financial industry , I was a investment adviser. With a degree in Radio and TV from Ohio University, I began hosting radio shows focused on investing in 1985, where I would interview fund managers, stock analysts, and CEO's and answer numerous listener questions.
During this time, I was fortunate to host a show for 5 years on one of the top 2 or 3 radio stations in the US as well as appear on local and national television discussing the financial markets.
The past 5 years have been spent assisting small business owners and commercial real estate investors with obtaining the funding they need to accomplish their goals.
During my career, I have learned we all can make the best business/financial decisions possible if we had access to objective insight from experts in the specific topic matter.
The goal of each episode of Your Business Decision is to share this expert insight, assisting the listeners with making the best business/financial decisions possible in the future.

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