Janet Yellen signaled a coming rise in rates.
IMO, they're going up within the next year. Maybe even 6 months.
She's been 'signaling' a rise for months, and it didn't happen at the September or November meetings. I would be shocked if it happened the next few meetings either, which is what I meant by short term. I agree that they may start to raise rates as early as 6 months from now, but that certainly has no bearing on someone's mortgage rate decision right now.
You're making it seem like the fed funds rate affects the 30 year mortgage rate.
Actually I did no such thing. I think maybe you mean ckmk47.
There is no connection between the two ?
Correct.
No connection is a bit strong. 30yr mortgage rates are extremely tied to the 10 year treasury note. The 10yr note is certainly affected by the fed funds rate, in the same way that just about any financial instrument is affected by changes in macro-economic conditions. The point is that a directional change in the fed funds rate does not guarantee a change to 30 year mortgage rates in the same direction.