Rate Prediction

The Fed finally stopped raising rates on August 8th 2006 (Prime is now 8.25%) and is hoping that inflation may now be under control. The Fed has left interest rates alone for six consecutive meetings after raising them 17 times from June 2004 to June 2006. Most experts think FED rates will remain essentially the same. Mortgage rates may go UP 1/2 % before year end, but remain historically low.