Helping Washington State homeowners learn more about their mortgage options.
How are mortgage rates doing following the Fed rate drop last week and what’s on the calendar this week that could influence the direction of mortgage rates? Check out my latest episode of The Mortgage Porter!
If you would like to see current rates based on your personal financial scenario, I’m happy to provide you with a no-hassle mortgage interest rate quote!
The Fed cut rates to the Funds Rate by 25 basis points today, as expected. Although the Fed Funds rate is lower, mortgage rates are actually moving higher as I’m writing this. Mortgage rates are NOT controlled by the Fed.
Mortgage-backed securities are down about 32 basis points.
How are mortgage rates fairing following last week’s Fed meeting and quarter point rate reduction to the Fed funds rate and what may impact the direction of mortgage rates this week?
Check out my latest episode of The Mortgage Porter Weekly.
For current mortgage rates based on your personal scenario, please reach out to me!
Click this link to watch my take on what happened with mortgage rates since the Fed lowered the Fed Funds rate by a quarter point on Wednesday.
If you’re curious how today’s market affects your home purchase or refinance, let’s connect—I’d be happy to run the numbers for your situation.
It’s finally here. The day we think we’ve been waiting for…the wrap up of the two day FOMC meeting where it is highly expected that Fed Chair Powell will announce that the fed funds rate will be reduced 0.25. As I write this (9:45 am Seattle time) MBS (mortgage-backed securities, which mortgage interest rates are based on) are pretty flat – up about 1 basis point. They’re flat because the markets have already priced in the quarter point rate reduction by the Fed. So if the Fed announces that there is not going to be a reduction to the funds rate or if they decide to cut 0.50 – we will see some serious market reaction. [Read more…]
Mortgage rates liked what they heard from Fed Chair Jerome Powell on Friday when he signaled that the Fed might adjust rates at the upcoming meeting in September. How does this impact mortgage rates and where are mortgage rates trending? Learn this and more about our new and improved bridge loan in this week’s episode.
If you would like to see what current mortgage interest rates are for your financial scenario, please contact me!
Today at 11:00 PST we will learn if the Fed is going to make any changes to the Fed Funds rate as they complete their two-day meeting. It is widely expected that there will be no change to the rate today. The Fed Funds rate does not directly impact mortgage rates* as mortgage rates are based on bonds (mortgage-backed securities), which move similar as stocks. Markets will be waiting for the Fed’s statement and the press conference that follows the rate decision. [Read more…]
It’s the day we’ve been waiting for! Okay, maybe you haven’t been anxiously looking forward to the wrap up of the FOMC’s two-day meeting and learning if they are going to adjust the Fed Funds rate. You must have more exciting things to do! 🤓 [Read more…]
Rhonda Porter is a Licensed Mortgage Originator MLO121324 living in the greater Seattle area. Rhonda began her career in 1986 in the title and escrow industry and began her mortgage career in 2000. She enjoys helping people understand the mortgage process and started writing The Mortgage Porter in late 2006. Read More…
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