Mortgage Rates Back to 2-Week Lows After Tax Plan

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Posted To: Mortgage Rate Watch

Mortgage rates improved moderately today following the release of the GOP tax bill and confirmation of Jerome Powell as Trump’s Fed Chair nomination. “Confirmation” actually isn’t quite the right word in this case because Powell actually does need to be technically “confirmed” by the Senate before he’s officially the new Fed Chair. What we got today was simply confirmation that several weeks of rumors and press leaks were accurate. Bond markets (and thus, interest rates) had already moved in anticipation of the Powell nomination, and it ended up having limited impact by the time it became official. Exerting far more dominance over the landscape of financial news headlines today was the grand unveiling of the House tax bill. Weighing in at over 400 pages, it’s no small task to break down all…(read more)

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