Mortgage

Economy

Here's how the Fed's rate hike could impact mortgages

Though mortgage rates do not follow the federal funds rate, they do typically follow the yield on the 10-year Treasury. Following the Fed's announcement, the 10-year Treasury yield spiked to 2.246%, its highest level since May 2019.

Personal Finance

10-Year Fixed Mortgage Rates

Although 10-year mortgage rates are usually lower than longer-term mortgages, you should weigh the pros and cons before choosing one. Here’s what you need to know.