What the Fed rate hike means for your mortgage
The Federal Reserve, the central bank of the United States, just announced they’re hiking interest rates by 0.25% to help cool down rising inflation.
The market expected the move, so it hasn’t caused a drastic change in mortgage rates so far.
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We expect rates to stay put in the short-term, with the potential for large swings day-to-day. Lock when you see a rate that makes sense for you, because the market can be unpredictable.
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Brendan Phillips, Capital Markets at Better Mortgage
More rate hikes are expected this year, so another jump could be around the corner.
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Homeownership rates, median home values, gender pay gap ratios, and quality of life scores. This newsletter does not constitute an endorsement or recommendation of Better Mortgage Corporation; Better Real Estate, LLC; Better Cover, LLC; Better Settlement Services, LLC; or their services. Better Cover is solely responsible for homeowners insurance services. Better Mortgage is solely responsible for making all credit and lending decisions with respect to mortgage loans. |
