Mortgage Rates Turning Blue From Lack of Oxygen

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Posted To: Mortgage Rate Watch

Mortgage rates are officially holding their breath ahead of Thursday's FOMC Announcement. It's not mortgages, specifically, but the entire bond market. In fact, a Fed rate hike doesn't necessarily have to be bad for mortgage rates or longer-term Treasury yields. It's the uncertainty that's causing the paralysis (or breath-holding, as the case may be). Financial markets will definitely become more active after Thursday's Fed decision. Simply put, most investors have a plan A and a plan B at the very least--one for a Fed hike, the other for 'no hike.' They don't want to get too far away from either plan until they know what the Fed actually does. This has been going on for quite some time and it's the biggest driving force behind the absence of volatility in mortgage rates. To reiterate, it's...(read more)

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Source: http://www.mortgagenewsdaily.com/consumer_rates/511809.aspx

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