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Interest Rate May Firm Up In January
New York banks and Florida savings associations raise yields to 4.25 percent or higher while California savings groups plan a cut to 4.85 percent on January 1. Federal rules keep most commercial bank rates at 4 percent. Forecasters expect generally higher rates as Medicine resets, driven by tax-cut effects and mortgage demand.
MENTIONED IN THIS ARTICLE
New York
Savings and Loan
Florida
California
Savings and Loans
William McC. Martin
Federal Reserve Board
Congress
U. S. Savings & Loan League
League
Interst
Federal Reserve
U. S