Mortgage Rates Move Higher After Fed Rate Hike, But Not Because of It
The Federal Reserve hiked rates by 0.75% yesterday and 30yr fixed mortgage rates moved moderately higher. Interestingly enough, those two things are fairly unrelated. The Fed Funds Rate (the thing the Fed “hikes” when you hear about the Fed hiking rates) applies to overnight loans among large financial institutions. It’s important, to be sure, but it […]