Loans
After years of tapering talk, it’s a good bet that the Fed will finally start to scale back its Treasury and bond purchasing programs in 2014 as the economy continues to firm up its footing. That change will lead to higher interest rates, which is good news for savers but less welcome for anyone who needs to borrow money. The Mortgage Bankers Association expects interest rates on a 30-year fixed mortgage to increase from 4 percent this year to 4.9 percent next year.
