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Mortgage rates fell at their fastest pace of the year following today's rate hike announcement from the Fed. If you're wondering why mortgage rates fell while the Fed's rate moved up, you're not alone. Fortunately, the explanation is simple. Financial markets had already fully accounted for the chance that the Fed would hike rates today. They'd even gone a step further an begun to account for a faster pace of future rate hikes. And it was that future outlook that allowed for our pleasant surprise. As it turns out, the median forecast among Fed members didn't see the Fed Funds rate ending the year any higher than the previous batch of forecasts (both for 2017 AND 2018). While there was no way to know exactly how much markets had prepared for the forecasts to move higher, it was certainly more
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Mortgage Rate Watch
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Mortgage rates fell at their fastest pace of the year following today's rate hike announcement from the Fed. If you're wondering why mortgage rates fell while the Fed's rate moved up, you're not alone. Fortunately, the explanation is simple. Financia... (read more) |
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Mortgage Rate Watch
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Mortgage rates are right in line with yesterday's levels, and yesterday saw rates fall at the fastest pace of the year, ultimately reaching the lowest levels in more than a week. As such, today's rates are still the lowest in more than a week! You mi... (read more) |
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Housing News
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Housing permits were down in February, wiping out the gains posted in January, while housing starts also reversed course , posting the year's first gains. All three of the housing measures in the residential construction report from the U.S. Census B... (read more) |
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Rob Chrisman
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“Everybody is a genius. But if you judge a fish by its ability to climb a tree, it will live its whole life believing that is stupid.” Different people are good at different things, and top LOs pride themselves on product knowledge. Here&... (read more) |
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MBS Commentary
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After the overnight session led bonds to open in modestly weaker territory, we're left with the sense that further gains aren't necessarily a given. As I cautioned yesterday, the rally was entirely the result of CORRECTIVE forces as opposed t... (read more) |
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MBS Commentary
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Yesterday's recap said that bonds were dreaming about the Fed's dot plot (the economic projections released with today's Fed announcement). In spite of nightmare potential, today's Fed announcement turned out to be a dream come true. The ... (read more) |
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