Mortgage Rates Unchanged at Start of Hectic Week

Mortgage rates didn’t move at all today, on average, but that’s likely to change throughout the course of the week–possibly several times.  Interest rates are driven by bond market trading which, in turn, takes its cues from all manner of inputs.  Two of the biggest inputs are economic data and the Federal Reserve (aka “The Fed”).  There is plenty to consider on both accounts in the coming days.
The Fed will release one of its periodic policy announcements on Wednesday.  No one expects them to raise rates at this meeting, but there are broad-based expectations for the verbiage of the Fed’s statement to soften (i.e. to become more friendly toward rates and financial markets in general).  Traders are already betting on some softening (which is helping rates stay lower than they otherwise might be over the past few trading days), but there’s still plenty of room left for surprises….(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