What Does The Fed Rate Hike Mean For Interest Rates?

The Federal Funds Rate does not affect mortgage rates directly but it can indirectly.  After the quarter point increase mortgage rates were unchanged yesterday but as of now mortgage-backed securities are higher so we could see an improve in interest rates.

No one can predict what rates will do but at some point they will have to go up and every 1% increase in an interest rate reduces your buying power by 11%.