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re: It's Official - The Federal Reserve Raises Rate 1/4 Point (Discussion Thread)
Posted on 12/17/15 at 11:14 am to TigerDeBaiter
Posted on 12/17/15 at 11:14 am to TigerDeBaiter
quote:'affect'
I understand that not all mortgages are prime +, but come on. It seems a little naive to believe rates of one don't effect the other.
Mortgage rates have been easing upwards for a while. As I wrote earlier in this thread, the Fed's rate increase yesterday has been anticipated for so long that most rates, other than the direct rate of fed funds and prime rates on loans, have adjusted higher long before yesterday's announcement.
Today's average 30-year mortgage rate is the same as it was yesterday and is actually slightly lower than it was two days ago. But the rate has increased .24% since this date last year. LINK
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