What the latest Fed rate hike means for mortgages


"What the latest Fed rate hike means for mortgage rates"*

"The Federal Reserve raised short-term interest rates another quarter percentage point Wednesday...'This move by the Fed to increase short-term rates was expected, and we expect to see another increase from them before the end of the year,' says Sean Becketti, chief economist for Freddie Mac. He notes that 30-year fixed mortgage rates are still close to a seven-month low, 'which is very good news for those potential homebuyers in the market and even those who may be looking to refinance.' "