Mortgage Rates Rise Following Following Fed Statement, Not Necessarily Because Of It

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Posted To: Mortgage Rate Watch

Mortgage rates moved higher today for the first time in nearly two weeks. Although the changes in lenders' rate sheets versus yesterday were largely a factor of late-day market gyrations that followed the afternoon's FOMC Announcement and Press Conference, the weakness in bond markets wasn't directly linked to any of the FOMC Headlines or any particular question/answer from Bernanke's press conference. In the grand scheme of things, the movement was small, but just enough relative to the day's flat range to justify revised rate sheets from lenders. Best Execution continues to hover between 3.625% and 3.75%. ( What is A Best-Execution Mortgage Rate? ) Far more important than any of the afternoon volatility is the distinct lack of volatility that followed what would normally be the actionable...(read more)

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Source: http://www.mortgagenewsdaily.com/consumer_rates/300884.aspx

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