The King James and New King James provide a woefully poor translation of this verse. Worlds means "aions" or "ages." We are living at the end of an age. The Bible speaks of an age that runs from the creation of Adam to the Flood. This present evil world is another age, and the world to come is another age. Other periods of time can be divided into periods of time in which God is shepherding events in a certain direction.
What the author means is, "By faith we understand that the ages were framed, or prepared, by the Word of God." God is guiding and directing affairs on earth. An invisible hand is manipulating events so that the person of faith can understand that history is not an endless cycle of repetition, even though the history of men is full of humanity's repeated mistakes. History is not circular but linear; it is headed somewhere. God is drawing matters to a conclusion; His purpose is building to a climax, though not the ultimate climax yet. That ultimate climax will not come until New Jerusalem is on earth and we are in that Last Great Day, as that is as far as the Bible takes the age of mankind.
Nevertheless, we are coming to the end of an age, and God is framing things. Time and history are moving linearly to the goal that God is bringing about. He is manipulating the course of events, preparing for its consummation. When that conclusion is reached, if by faith we are yielding to God, we will be prepared as He wants us to be because Hebrews 11:3 is part of our operating agenda. We see the hand of God working, not only in the big events of this world, but also in our lives.
John W. Ritenbaugh
Faith (Part 2)