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Mortgage Rates Higher Following Fed Forecasts

Mortgage rates moved higher today, following the Fed’s much-anticipated policy announcement.  Although the Fed changed quite a few words from the announcement’s previous iteration (far more than normal), it wasn’t the announcement itself that did the damage.  Rather, it was the Fed members’ economic projections, which include an assessment of where the Fed Funds Rate will likely be at the end of the next few years.
Specifically, a few of the Fed members who’d been holding out for slightly lower rates in 2018 moved their forecasts up enough to increase the odds of a 4th rate hike by December.  This was already a strong possibility, but before today, those in the “3 hike” camp had a stronger case….(read more)Forward this article via email:  Send a copy of this story to someone you know that may want to read it.
Source: mortgagenewsdaily.comNew feed

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