FOMC Raises Rates by .25%

Well they finally did it.  At the Federal Open Market Commiittee meeting today, rates were raised .25%, as anticipated.  This was already factored into mortgage rates recently, and didn't come as much surprise.  What is surprising is the projected 3 rate hikes in 2017, as opposed to the previously predicted 1 or 2.  Contact me if you want to discuss what rising rates could mean in our local market.