Mortgage Rates Soar To Multi-Month Highs Following Fed Minutes

Hot news from AZ Home Help:

Posted To: Mortgage Rate Watch

Mortgage rates soared to their highest levels in months today after Minutes from the Fed's most recent policy meeting showed the board to be more divided concerning the continuation of its most recent round of quantitative easing, dubbed QE4. It's not that markets think that The Fed's purchases of MBS (the "mortgage backed securities" that most directly influence mortgage rates) or Treasuries will be stopping any time soon, but however long a particular market participant thought that QE would continue, that time frame was either shortened or called into question after today's data. That led to major selling pressure in bond markets, including MBS. It's as if MBS got a call from their rich uncle saying "hey there sport... Um, yeah.... about those checks I've been sending you... you know, the...(read more)

Forward this article via email:  Send a copy of this story to someone you know that may want to read it.

Source: http://www.mortgagenewsdaily.com/consumer_rates/289896.aspx

- For more real estate news visit our website at http://www.AzHomeHelp.com