12/14/2016
The Fed increased rates today, which was expected by the market. Here's the real reason mortgage rates headed higher today:
The Fed did what was expected, increased the Federal Funds rate by 0.25% to a range of 0.50% to 0.75%. The policy statement was about in line with what we expected; the headline, if you want to believe it; the Fed is thinking three more rate increases this year.