The Fed rate ahs stayed level for the last year but mortgage rates have gone up as high as 1.5% from last year. Soooooo fed rates stay the same yet mortgage rates go up. Where is the connection? There is none. Fed rate goes down today the mortgage rates will stay the same or go up some more. The banks offered a 4.5% rate when the FED rate was 1%. When the fed rate was 5% they offered mortgages at 6%. There is no relation whatsoever. The only people that benefit from this are the banks.
