Federal Reserve to announce possible interest rate increase

By  | 

BISMARCK The Federal Reserve is announcing Wednesday whether or not to increase interest rates.

If there's an increase, consumers might see rate changes on variable loans.

On the other hand, experts from the Capital Credit Union anticipate mortgage rates to stay stable.

That's because mortgage rates are tied to longer term interest rates.

"Every time rates have gone up on the feds, our mortgage rates have gone down, they've actually gone down about a half a percent this year so far." said Scott Bullinger, Capital Credit Union home leading expert.

Bullinger says mortgage rates are at historic lows. The fed has raised rates four times within the last two years.