After hooking a Survivor, Pop Goes the Weasel activates for the next 35/40/45 seconds:

Performing the Damage Generator Action on a Generator instantly regresses it by -20 percent of its current Progression, after which normal Regression applies.

You become obsesses with one Survivor.  When your obsession is hooked, Furtive Chase receives a token, up to a maximum of 4 tokens.

Each token decreases your Terror Radius by 4 meters while in a chase.

When a Survivor rescues the Obsession from a hook, the rescuer becomes the Obsession.

When hooking a Survivor, all other injured Survivors suffer from the Hemorrhage and Exhaustion status effect for 45 seconds.

Blood Echo has a cooldown of 60 seconds.

Exhausted prevents survivors from activating exhausting perks.
Hemorrhage regressing healing progress when not healing, and increases blood trails left by injured survivors.

While carrying a Survivor you benefit from the following effects:

Decreases Wiggle effects, which cause you to strafe sideways, by 75 percent.
Increases Wiggle duration by 4/8/12 percent.