TY - JOUR T1 - Higher Mortgage Rates: <em>The Effect on Housing and Mortgage Markets</em> JF - The Journal of Structured Finance SP - 36 LP - 44 DO - 10.3905/jsf.2017.23.3.036 VL - 23 IS - 3 AU - Frank E. Nothaft Y1 - 2017/10/31 UR - https://pm-research.com/content/23/3/36.abstract N2 - After an unprecedented period of accommodative monetary policy, the Federal Reserve has begun to normalize its policy stance. Since December 2016, the Federal Reserve has raised the federal funds target three times, in one-quarter-point increments. The consensus view among members of the Federal Open Market Committee, as well as the expectations of business economists, is that one additional quarter-point hike is likely to occur by year-end 2017, with a cumulative 0.5 to 1.0 percentage point increase likely during 2018.TOPICS: Fixed income and structured finance, legal/regulatory/public policy ER -