Rate Spike Pauses on Fed Chair Optimism

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Posted To: Mortgage Rate Watch

Mortgage rates recovered some of their recent losses today, with most lenders moving back into Wednesday’s territory. The improvement followed another round of rumors regarding Trump’s Fed Chair selection process. Specifically, Jerome Powell was indicated as the frontrunner this time around. Here’s why that’s important. The Fed Chair (a role currently filled by Janet Yellen) is perhaps the most important person in the world when it comes to interest rate movement. While the Fed will ultimately be forced to adapt its rate policy to economic conditions, so many of the ups and downs we experience along the way are driven by the Fed’s decisions. And the Fed Chair has a disproportionate amount of control over those decisions compared to anyone else at the Fed. In short, don’t think of the Fed as…(read more)

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