How does the Feds raising interest rates affect mortgage rates?

How does the Feds raising interest rates affect mortgage rates?

Mortgage interest rates are not directly tied to the Federal Funds interest rates, but mortgage interest rates are frequently affected by what the Feds do. The Feds voted Wednesday to increase the interest rates by 1/4%. But it appears that the interest rate increase was already anticipated and therefore did not affect the mortgage rates.

The Feds have indicated they plan on raising the interest rates three time in 2018. It is anticipated that those three Federal Funds interest rate increases will put upward pressure on mortgage interest rates next year.

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