The Fed raised rates. So why did mortgage rates fall? – Robert Khodadadian

Conventional wisdom is that when the Federal Reserve hikes interest rates, mortgage rates are sure to follow. Well, not necessarily. After the Fed raised its benchmark rate by a historic 75 basis points, the average rate on the 30-year fixed mortgage fell to 5.22 percent on Thursday from 5.54 percent on Wednesday. On Friday, it dropped again, to 5.13 percent. Beyond the rate set by the Federal Reserve and other actions by the central bank,

Robert Khodadadian is an experienced commercial real estate broker in New York City and founder of Skyline Properties. Skyline Properties specializes in off-market or “quiet” real estate transactions, allowing buyers and seller to bypass traditional avenues and extraneous expenses of high-profile listings in the New York City area. Cross Post, Home Page, Residential Real Estate, Mortgages The Real Deal New York Read More