Helping Washington State homeowners learn more about their mortgage options.
Today the FOMC wraps up their two-day meeting and around 11:00 am PST, we will learn if the Fed is going to make any adjustments to the Fed Funds rate. It is widely expected they will not adjust the rate today.
What may impact mortgage interest rates today will be the press release and Fed Chair Powell’s commentary following the meeting.
As I write this post at 7:58 a.m., mortgage-backed securities are pretty flat with the 30YR 6% up 3 basis points. The DOW is up 33 to 39,243. [Read more…]
Mortgage interest rates are having one of their best days in months following the CPI report released this morning showing better than expected data on inflation. Yes, inflation is still high but this morning’s report indicates that it may be starting to correct. [Read more…]
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…]
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…]
Mortgage interest rates have been pushing higher with the Fed pulling out of buying mortgage-backed securities and inflation. Check out Freddie Mac’s latest Prime Mortgage Market Survey that was published this morning. NOTE: Rates posted below are EXPIRED – for current mortgage rates based on your personal scenario for homes located in Washington state, please click here.
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…]
This morning, Japan announced their GDP (gross domestic product) continues to decline, giving US mortgage bonds a slight boost. This week has a lot of economic indicators scheduled to be released that could impact the direction of mortgage rates. Keep an eye out for data that reveals inflation, as that will cause mortgage rates to trend higher.
Currently mortgage rates are continuing to improve (see below) compared to last week’s mortgage rate post.
This week is packed full of economic indicators that may influence mortgage interest rates, including the Fed meeting on Wednesday and Jobs Report on Friday. The Jobs Report carries a lot of weight with mortgage rates as it may indicate inflation. As the economy and employment improves, we may see signs of wage inflation. Inflation is the arch enemy of bonds, like mortgage backed securities – which mortgage rates are based on. World tensions may also impact mortgage rates as investors may seek the safety found in bonds.
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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