There is so much volatility in the financial markets, I can have multiple rate changes through my wholesale mortgage sources a day. Generally to the upside. We know the Federal Reserve was a year late on reversing their very loose financial accommodation of .25% Feds Funds Rates and Quantitative ... » Learn More about Mortgage Rates on a Roller Coaster
fed funds rates
Fed Increases End of 2022 Rate Substantially
The immediate news is the Federal Reserve increased its overnight Fed Funds Rate .75% to 1.5-1.75%. The ongoing high inflation levels pushed them to move higher than the originally conveyed .5% increase. The bigger news is the end of 2022 rate forecast is up from 1.9% to 3.4%. That's a substantial ... » Learn More about Fed Increases End of 2022 Rate Substantially
The Fed Preps Us For Rate Increases
After their September 22nd meeting, the Federal Reserve left the Fed Funds Rate at 0-.25%, and the quantity of Bond and Mortgage Securities purchases intact at $120B per month... But they signaled that they feel comfortable scaling back on their bond purchases by the end of the year. The bond and ... » Learn More about The Fed Preps Us For Rate Increases
Fed Makes 1/2% Emergency Rate Drop
The Federal Reserve made a 50 basis point drop to the Fed Funds Rate to help try to stabilize the financial markets. The markets have been in a distressed mode since the Coronavirus has been expanding internationally. Interest rates have already been dropping as I've indicated on my prior blog Virus ... » Learn More about Fed Makes 1/2% Emergency Rate Drop
Mortgage Rates Pop over China News (Again)
What a year for interest rates! The 10 year note, which we follow as it most correlates with 30 year fixed mortgage rates, was at 3.25% back in September 2018. A year later in September of this year it dropped all the way down to 1.44%! Now over the past two month’s rates have had broad swings, but ... » Learn More about Mortgage Rates Pop over China News (Again)