Fed Fund Rate Increase and Construction Loans

The recent increase of fed fund rates did not have a significant impact on construction loan rates or regular mortgage rates for that matter.
Why? Because this was an increase that was very much anticipated by the market and priced into it.
In other word this rate hike was already priced into the mortgage loan rates for some two weeks.
In fact there was a small rise early in the week for a day or so due to the fact that some trades anticipated a larger than what has become usual increase of 0.5%, which of course did not materialize.