Mortgage Rates Near Recent Highs Ahead of Fed

Mortgage Rates were slightly higher in most cases today, although there were a few lenders in better shape. This runs counter to movement seen in underlying bond markets, which in slightly better territory on the day. The discrepancy is due to conservative pricing strategies among lenders ahead of tomorrow’s Fed Announcement, as well as the timing of yesterday’s movement. As we discussed yesterday, bonds weakened in the afternoon, but most lenders kept rates unchanged. That meant we were “owed” a bit of weakness today, and the bond market improvement hasn’t been enough to offset that. The general consensus is that the Fed is not going to hike its policy rate tomorrow, though predictions vary…
Mortgage Rates Newsletter – Market Analysis

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