Higher Rates Due to The Fed, But Not Due to The Fed’s Rate Hike
The Federal Reserve hiked rates by 0.75% this week 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…
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