FOMC Hikes Interest Rates; Will Mortgage Rates Follow?

June 14, 2017 Staff Writer

The Fed has voted for the second time this year to raise interest rates, a decision that was hinted at back in March by Janet Yellen, FOMC Board of Governors Chair. The FOMC is of the opinion that waiting too long to scale back accommodations could potentially cause a rapid increase in rates, which could disrupt the market and send the economy into another recession. It is currently unclear how the hike in interest rates will affect mortgage rates.

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