Mortgage Rates Unfazed By Fed Minutes

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Posted To: Mortgage Rate Watch

Mortgage Rates were sideways to slightly higher today, although some lenders offered modest improvements after the release of the Minutes from the most recent Fed meeting. Some investors were prepared for (or “worried about”) the possibility that the Minutes would convey more resolve on the part of the Fed to hike rates in one of the upcoming meetings. Instead, the Minutes merely gave us more of the same “it depends” type of verbiage and noted that most of the Fed voters prefer to wait for more economic strength and signs of inflation before hiking. Because bond markets (which dictate rate movement) can defend against certain outcomes by trading in the direction of that outcome. In other words, if bond investors are worried the Fed might say something that makes rates move higher, they can…(read more)

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