Mortgage rates and the Fed Funds rate

YESTERDAY THE FEDERAL RESERVE RELEASED minutes from their last Federal Open Market Committee (FOMC) meeting in April. The big news was that the FOMC still considered a June rate hike a possibility. How much does Fed policy impact mortgage rates? I put together a few gifs comparing the history of the 30-year mortgage rate, the Fed Funds rate and the 10-year constant maturity Treasury.

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