Mortgage interest rates have been moving higher at a pace not seen in years. If you’ve been a subscriber to The Mortgage Porter, you may recall that I often say mortgage rates move up much faster than they come down…the jump over the last few days has surprised many. [Read more…]
Mortgage rates pushing higher
June 14, 2022 by Leave a Comment
Fed Raises Funds Rate a Half Point
May 4, 2022 by Leave a Comment
Today wrapped up the two-day FOMC meeting and Chairman Powell announced that the funds rate will be increased by a half point. As of today, the federal funds rate is 0.75-1% and is expected to another 2 percent by the end of the year.
From the FOMC statement: [Read more…]
Mortgage Rates Dramatically Increase
April 5, 2022 by Leave a Comment
Today mortgage rates jumped about 0.25-0.375 in interest rate or about a full point (1% of the loan amount) in fee. Mortgage rates have been trending higher since the beginning of this year. Today’s movement with mortgage rates is a pretty significant increase for one day.
The is largely due to Federal Reserve Governor Brainard stating today that they are going to start rapidly liquidating their balance sheets as well as being more aggressive with increasing the federal funds rate. Combine this with inflation and mortgage rates will continue to push higher. [Read more…]
The Fed’s Announcement Yesterday and how it impacts Credit Cards
December 16, 2021 by Leave a Comment
Yesterday the Fed (FOMC) wrapped up their two day meeting deciding to leave the Fed Funds rate unchanged. How does this impact you?
Fed Leaves Rates the Same BUT…
June 16, 2021 by Leave a Comment
The Fed’s announcement today to leave the funds rate unchanged was not a surprise to the markets. What did send the bond market in a tizzy this afternoon was that the Fed ever-so-slightly moved the goal posts out a bit for inflation. [Read more…]
FOMC drops the Fed Funds Rate by 0.50
March 3, 2020 by Leave a Comment
This morning the Fed lowered the Fed Funds rate by 0.50 to 1-1.25% due to the global financial impacts of the coronavirus. The markets were anticipating the Feds to make a move and reacted favorably…however we’re still seeing plenty of volatility.
What does this mean with regards to mortgage interest rates? They are still very very LOW making this a great time to look at refinancing. [Read more…]
Mortgage interest rates continue to trend higher
September 27, 2018 by Leave a Comment
This morning Freddie Mac released their weekly Prime Mortgage Market Survey (PMMS) showing that mortgage interest rates are continuing to trend higher. Click here for current mortgage interest rates in greater Seattle and beyond.
Fed Increases Funds Rate by 0.25%
June 13, 2018 by Leave a Comment
As expected, the Fed increased the Funds rate by 0.25% moments ago. The markets were anticipating this move by the Fed and, as I write this post, I’m not seeing any significant rate changes to mortgage interest rates. The rates were already “baked in the cake”. Had the Fed decided to increase rates beyond 0.25% or not to take action, we would potentially be being seeing a reaction with the bond market which would be reflected in mortgage interest rates. [Read more…]
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