12/14/2022
Hey everyone! Happy Holidays! ATTN: Mythbuster alert
I just wanted to update anyone who is curious about how the most recent Fed hiking of "rates" will affect or not affect the housing market/prices.
There is a common misconception that the fed funds rate is tied to mortgage rates. Most people I've talked to think that mortgage interest rates have gone up too, thus expecting a negative shift in the housing market. This is not the case!!!
For the last couple days mortgage rates have actually dropped. See infographic below. Please feel free to reach out if you have any additional questions about this as it can be confusing!
Also: Here is an article for those who are further interested in knowing more about what the fed funds rate actually is. :)
https://homebuyer.com/learn/fed-mortgage-rates?fbclid=IwAR1YWOju2AJBD0ZoZy79zMbnoOPgVUN76-gZ0fjzlxtqnhDGOJGAK1CkP5w
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