By Elizabeth Weintraub, About.com Guide
Mortgage rates will rise in 2009 but will remain historically low.
© Big Stock PhotoOn November 7, 2008, as I write this, the federal funds rate is 1%. It's not likely to go much lower and, in fact, will probably go up. Mortgage rates are not tied directly to the federal funds rate but that does influence its movement. Historically, mortgage rates exceeded 8% from 1970 to 1992.
So while the bad news is rates will rise, they won't surpass 8%.
What to eat, where to go, fun things to do and how to save money on the perfect gifts. More >
Bring a little of the fall season in your home with this easy-to-make craft. More >
©2009 About.com, a part of The New York Times Company.
All rights reserved.
