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Interest rates: The big freeze

Posted by Bonnie Martin Designated Broker on Tuesday, January 22nd, 2013 at 9:53am.

Anxious for interest rates to rise in 2013? Take a chill pill. - The low rates of the past few years -- which have warmed the hearts of mortgage applicants but been cold comfort to savers -- are unlikely to budge soon. For that, thank (or blame) the Federal Reserve.

To spark growth, the Fed is aiming to keep the influential rate at which banks lend one another money between 0% and 0.25%, and it expects that number to be "exceptionally low" until at least mid-2015.

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