Fed Day September 2019: 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 … Read more
Fed Decision July 31st, 2019: 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: … Read more
Fed Decision June 2019: 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 … Read more
Fed Meeting March 2019: Heading into the two-day meeting mortgage rates are at their 2019 lows. While the Fed does not set mortgage rates they do have an influence over the market that does set mortgage rates. The Mortgage Backed Securities (MBS) market is near it’s one year high which is good for mortgage rates (higher MBS prices equal lower … Read more
Possible Deal To Avoid Government Shutdown: Last night it was announced that Republican and Democrat leaders in the Senate and the House agreed to a bi-partisan deal to keep the government open. Without a deal in place by Friday midnight the federal government will shutdown for the second time in 2019. The biggest sticking point has always been about building … Read more
What The Fed Had To Say: The Fed did not hike (as expected) and expressed some concerns about the economy. They announced a “measured” approach to future rate hikes and a continuation of the unwinding of their balance sheet. They also dropped some of the previous language about the health of the economy which was a surprise. For more on … Read more
The Fed Meeting And Mortgage Rates: Today was the start of the two-day FOMC meeting (Federal Open Market Committee; aka “the Fed”) and all eyes are on what they’ll say post meeting. The likelihood they’ll raise their rate at this meeting is next to none as it’s fairly evident the US economy has slowed. This is what analyst and investors … Read more