How The Fed Does NOT Control Mortgage Interest Rates

The Fed raising the Fed Funds Rate does not affect mortgage interest rates.
I've spoken to home buyers, homeowners, and industry professionals... and there's a lot of confusion on this topic. Here, we look at some data to illustrate that the Fed Funds Rate does not affect mortgage rates. While they often move in a similar direction, it's because they are both reacting to the same thing... not because one controls the other.