Here’s some news you’ll need to know when looking for islamic home financing this year

Experts agree 2014 is going to be a year of change whether you’re looking for Islamic home loans or more traditional Western varieties. While some of these changes will be favorable for people looking for Islamic mortgage loans, foxed rates are set to firm up. Here’s why.

• The Federal Reserve is looking to get out of the business of supporting the market directly. This will have the effect of moving the fixed rates higher than they’ve been in some time. Another factor contributing to this trend is the overall consensus the economy will be stronger in 2014 than in 2013.
• On the other hand, short-term interest rates are forecast to remain low for the foreseeable future. Even though quantitative easing is coming to a slow end, most experts feel the Fed will still have an active role in making sure these rates remain reasonable.

Although the interest rates don’t affect people looking for Islamic home loans the way they do with people who signed on for more conventional mortgages, it’s a good idea to understand how to play the markets effectively.