This morning the Fed raised the Federal Funds Rate this morning by 0.25% to 1.00%. Although the Fed does not directly control mortgage rates, this move will most likely cause mortgage rates to continue to trend higher. The Fed Funds rate does directly impact home equity lines of credit interest rates that are attached to the prime rate. [Read more…]
It’s been a while since I’ve done a live post. I think today calls for a live post since the FOMC is meeting and it’s highly anticipated they will decide to increase rates. Mortgage rates have been steadily climbing since mid-November following the elections. There are several factors that are influencing the upward move in rates, including what appears to be a better economy along with signs of inflation. [Read more…]
Fed Chair Janet Yellen is expected to announce an increase of 0.25% to the Fed Funds rate following the wrap up of today’s FOMC meeting around 11:00 PST.
Today the two day Fed meeting wraps up and we’ll learn if the Fed is going to raise the Fed Funds Rate. Following the announcement from the Fed (around 11:00 am PST), we will have commentary from Fed Chair Janet Yellen. While the Fed doesn’t directly dictate what mortgage rates will be, their actions certainly influences mortgage interest rates.
Today at around 11:00 am PST, the FOMC will wrap up their two day meeting and announce any changes to the Fed funds rate. Markets will react to the Fed statements regarding their views of our economy impacting their decisions on whether or not to raise the Fed funds rate. It is widely anticipated that there will be no change to the Fed funds rate today.
It’s not unusual to have the Fed meeting impact the direction of mortgage rates…so I thought I’d attempt a “live rate post” to illustrate how mortgage rates can change in a day. Mortgage rates have been trending higher this week. As of 7:52 am this morning, the 30 year fixed rate is higher by about 0.125% in rate or 0.752 in fee compared to what I quoted two days ago on Monday’s post.
My apologies for being a couple days late on this post which is typically published on Mondays… I had Monday off (it was my birthday) and with taking a day off, I had fun catching up on emails yesterday.
For my birthday, my husband and I went to Pinot country in Oregon – it is absolutely beautiful. If you enjoy pinot noir or crisp white wine, I recommend you check it out!
Mortgage rates are pretty much unchanged following yesterday’s sell off in the bond market causing rates to trend higher. Today at 11:00 am Seattle time, the Fed will release the minutes from the last FOMC meeting. This tends to influence mortgage rates so I thought it would be interesting to do a live rate mortgage rate post. You can follow me on Twitter @mortgageporter to see when I’ve updated this post.
Rates quoted below will be based on a sales price of $500,000 with 20% down payment, loan amount of $400,000. Borrowers have credit scores of 740 or higher. Rates quoted are subject to credit approval and may change at anytime. If I can provide you with a mortgage rate quote, click here.
It’s interesting to see how the markets react to “Fed Day” so I thought I’d do a “live post” today, updating this throughout the day with current mortgage rates.