Federal Reserve Signals Two Rate Hikes
The Federal Reserve met this week and are now expecting to make two increases to the Federal Funds Rate by the end of 2023.
What does that mean for mortgage rates?
While mortgage rates are not directly impacted by the Federal Funds Rate, they typically fluctuate based on the economy and inflation. The Fed's confidence in the economy, the healing labor market, and rising inflation are likely to result in increased mortgage rates.
This doesn't mean you or your clients should panic: Mortgage rates will likely rise at a gradual pace, but it's time to get prepared. I am here to help.
It's important for your clients speak to me sooner than later to see if you can take advantage of today's rates.