The Fed’s next interest rate hike ‘might be the biggest in decades.’ So we asked 6 real estate pros: What might that do to mortgage rates?

Word on the street is that the Federal Reserve may raise rates by 1% at their July 26 meeting — as they try to quell inflation that now sits at a 40-year high. Barron’s recently noted that: “With inflation so hot, the Fed’s next rate hike might be the biggest in decades,” and plenty of other sources — from CNBC to CBS News — are speculating about a 1% rate hike at the meeting. If the Fed does hike rates, what might that mean for mortgage rates?
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