Mortgage Rates Avoiding Drama Ahead of Fed Week

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Posted To: Mortgage Rate Watch

Mortgage rates are doing absolutely everything in their power to avoid making any sudden movements ahead of next week's potential volatility. It's not mortgage rates per se, but rather, multiple market sectors have been trading in increasingly narrow ranges this week. As we've discussed, next week's Fed Announcement is the big deal on the near term horizon because it's the first real opportunity for the Fed to lift its policy rate from 6 years at all-time lows. While this sort of rate hike doesn't necessarily translate to mortgage rates, any major changes in Fed policy can cause volatility across markets. Historical examples of Fed rate hikes following longer stints at longer-term lows show multiple outcomes. That means there are indeed examples of Fed rate hikes followed by falling mortgage...(read more)

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Source: http://www.mortgagenewsdaily.com/consumer_rates/511166.aspx

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