Thie biggest financial news of this upcoming week will be the results of the Fed's Open Market Committe on Wednesday. The Fed is widely expected to raise interest rates at that meeting, which would move the benchmark fed funds rates above the near-zero level for the first time since Dember 2008.
How widely expected is it? You can already see interest rates starting to rise in various corners of the economy. Last week, the average interest on a 30-year fixed-rate mortgage rose to 3.95 percent, according to Freddie Mac. At the end of October, a month and a half ago, that figure was at 3.76 percent.
The 15-year fixed-rate mortgage has also been creeping up, rising by 0.03 percentage points in the last week alone. But that rate is still just at 3.19 percent.
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