Mortgage Rates Barely Budge After Fed Minutes

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Posted To: Mortgage Rate Watch

Mortgage rates are ending the day very close to unchanged , following what was--by all rights--a supportive reading of the Fed's April Meeting Minutes. The big, nasty surprise that may have been lurking (potential rate hike arguments for June) was instead ruled out. The Fed noted that many members agreed that the economy wasn't likely to make a strong enough case for a June rate hike. That said, neither did the Minutes suggest the Fed was reevaluating their general game plan of hiking in the 2nd half of 2015. But even then, there just wasn't much of a reaction at all. The absence of a reaction means that trading levels in bond markets were holding fairly steady. If they were moving drastically, or even just moderately, lenders would likely be adjusting rate sheets higher or lower accordingly...(read more)

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Source: http://www.mortgagenewsdaily.com/consumer_rates/473341.aspx

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