Staying on top of important industry news, events and economic reports that impact mortgage programs, rates and guidelines is essential for both homeowners and homebuyers. Here we also cover the Fed’s impact on the mortgage industry and more importantly how they impact consumer mortgage rates.
When we have the potential for war, armed conflict or an international crisis we are asked this question a lot: How does war and crisis impact mortgage rates? For people looking to purchase a new home or those looking to refinance a current mortgage it’s an important question to ensure you lock in at the optimal time. That being said; … Read more
Most analyst don’t expect much from this meeting. Over the last few months it’s been said by more than one Fed member and on more than one occasion; no more rate cuts for the foreseeable future. The job market is healthy, unemployment is low, inflation is low so there it’s not surprising to see the Fed take a pause as … Read more
Today we have the conclusion of the two-day October Fed meeting. The market is expecting a .25% rate cut and that is exactly what the market received. Also the Fed said it would take a significant change in the direction of the economy to warrant another rate cut so this is most likely the last rate cut of 2019 and … Read more
Heading into the two-day meeting the market was expecting the Fed to lower by a .25%. It’s important to remember this very important fact when reading about Fed action: The Fed does not set mortgage rates If the Fed lowers or raises a .25% it does not mean mortgage rates move an equal amount Sometimes when the Fed goes in … Read more
Today was the conclusion of the two-dat FOMC meeting (Federal Open Market Committee – aka the Fed). The market was expecting a .25% cut and that is exactly what was delivered. No big surprises and up next is the Powell press conference. Check back for more updates later in the day Powell Press Conference Updates: Powell is concerned about a … Read more
The Fed decides to hold for now but expressed concern about the current economic conditions. The initial response from bond markets has been lower yields. Still waiting for the presser to start which should give further insight into the Fed decision. We’ll keep you posted! Towards the end of the day the 10y yield settled below 2.03%; the lowest level … Read more