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What does a Fed rate hike mean for mortgage rates?

Homebuyers face higher borrowing costs after the 30-year fixed rate for mortgages rose last week to its highest level in nearly two years. Don’t just blame the Federal Reserve.

Coverage (1)+1 copy· Sep 22, 2:44 PM to Sep 22, 2:44 PM

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2 articles
  1. firstSpokane Spokesman-Review
  2. firstUSA TODAY

Before

Federal Reserve official says fighting inflation likely to be 'painful'A top Federal Reserve official said Monday that the central bank may have to cause economic pain in the form of higher unemployment to combat stubbornly high inflation. Austan Goolsbee, president of the Federal Reserve Bank of Chicago, said in a speech in London that the Fed is facing a series of persistent supply shocks, including the Iran war and…
The Atlanta Journal-Constitution14d agoWhole story →

Since

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Struggling US homebuyers, and market, face new hurdles as mortgage rates climb to nearly 7%Mortgage rates climbed for the fourth week in a row, driving the average long-term U.S. home loan rate to just below 7%, its highest level in over 19 months. Mortgage buyer Freddie Mac said Thursday that the benchmark 30-year fixed rate mortgage rate rose to 6.95% from 6.76% last week. One year ago, the average rate was 6.26%. The average rate on 15-year…
The Atlanta Journal-Constitution18d agoWhole story →
US mortgage rates brush 7%, weighing on buyers, sellers and further straining a bleak housing marketMortgage rates climbed for the fourth week in a row, driving the average long-term U.S. home loan rate to just below 7%, its highest level in over 19 months. Mortgage buyer Freddie Mac said Thursday that the benchmark 30-year fixed rate mortgage rate rose to 6.95% from 6.76% last week. One year ago, the average rate was 6.26%. The average rate on 15-year…
The Atlanta Journal-Constitution18d agoWhole story →