Mortgage Rates Little-Changed. Volatility Ahead

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Posted To: Mortgage Rate Watch

Mortgage rates were essentially unchange d today, despite implied weakness in underlying bond markets. In other words, rates should have moved a bit higher today if they were paying strict attention to the mortgage-backed-securities prices that typically set the tone. For what it’s worth, this has been fairly common over the past few weeks, and at times it can seem like lenders are reacting to market movements from the previous business day. Tomorrow’s FOMC Announcement is an event that not only begs an immediate reaction , but could also kick off a sustained move higher or lower. Most market participants do not expect the Fed to raise rates at this meeting, but if last October’s Fed Announcement was any indication, the Fed may use this opportunity to clearly telegraph its next move. In addition…(read more)

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