March 16, 2017
As expected, the Federal Reserve raised benchmark rates by 1/4 point on Wednesday, amid optimism due to steady job growth and economic recovery. This is the second increase to take place in the last three months.
The initial response to the increase was a healthy one, with mortgage rates decreasing slightly after the change took place, and the Fed Chair Janet Yellen has hinted that more increases are to be expected in the future if economic growth continues.
Source: Reuters