By Lisa Prevost | The New York Times
The intense media focus on when the Federal Reserve will finally raise its benchmark interest rate above zero can be nerve-wracking for home buyers. Many might be wondering whether they should rush to close on a deal before a move by the Fed causes mortgage rates to climb.
While it might be smart to expedite deals already in the works, those who aren’t quite ready to buy shouldn’t feel pressured. Mortgage rates are influenced by many factors, some of which can be controlled by borrowers to get a better deal.
