Fed fund rate maybe be heading up, but that’s no guarantee that mortgage rate will follow. We can very well see an inverse yield curve instead of a flatten yield curve. I mean, short term rate has been on the rise the last couple of years and long term rate went no where. Doesn’t inverse yield curve lead to a recession? If so, then isn’t the recession some are predicting will be lead/follow by inverse yield curve? This might affect those ARM loans but won’t move 30 year fixed rate much if at all. Just my guess.
