First Fed Rate Hike of 2017: Impact on Mortgage Rates

Mar 16, 2017, 15:17 PM by User Not Found
The Federal Reserve raised short-term interest rates by a quarter of a percentage point today. In terms of suspense, this was the slowly inflating balloon that didn’t pop. The result: no surprise. “There was a high likelihood that the Fed was going to raise rates, so that was already priced into the market,” Mat Ishbia, president and CEO of United Wholesale Mortgage, tells NerdWallet. As a result, housing experts don’t expect the latest Fed move to cause a sharp spike in mortgage rates.
The Federal Reserve raised short-term interest rates by a quarter of a percentage point today. In terms of suspense, this was the slowly inflating balloon that didn’t pop. The result: no surprise.
 
“There was a high likelihood that the Fed was going to raise rates, so that was already priced into the market,” Mat Ishbia, president and CEO of United Wholesale Mortgage, tells NerdWallet. As a result, housing experts don’t expect the latest Fed move to cause a sharp spike in mortgage rates.
 
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