Are More Rate Hikes Still to Come and What's It To Us?

Jeff Brown from the Philadelphia Inquirer believes the latest rate hike from the Fed and the accompanying hint that future rate hikes may be necessary are a signal that we should grab fixed rate loans while the rates are good. Jeff's article does a good job of breaking down the consequences of more hikes to come and what they mean for borrowers. From the article:

Meanwhile, Tuesday's rate hike, and the continuing prospect for more, provide a clear game plan for homeowners and mortgage shoppers: It's time to consider refinancing your adjustable-rate mortgages, or, if you're buying a home, to shun these deals. Fixed-rate loans are the better bet.

As Mr. Brown indicates, however, there are those who are optimistic, based on the Fed's comments, that the rate hike period is ending. Basically, the Fed's comments were vague and it is not certain whether we will see many more hikes in the near future. Useless, I know.