Mortgage markets faced a broad sell-off last week, sparked by the Federal Reserve and consumer sentiment.  This caused mortgage rates to spike from Wednesday to Friday and it caused the “lowest rates of all-time” to seem like an opportunity lost. It’s the first time in 4 weeks that mortgage rates rose overall. Last week was [...]

The Federal Open Market Committee voted to leave the Fed Funds Rate unchanged today within its target range of 0.000-0.250 percent.  The Fed also reiterated its plan to support the mortgage market to the tune of $1.5 trillion. In its press release, the FOMC noted that the economy may still be contracting, but that it’s [...]

Monday, mortgage markets improved with news of new Swine Flu cases.  It’s a classic example of Safe Haven buying and today’s rate shoppers will see the benefits. Mortgage rates improved about 0.125 percent Monday. It’s not an official term, but “Safe Haven buying” describes the trading patterns in which large numbers of investors move money [...]

Last week, like the 3 weeks prior, mortgage markets were all over the place from day-to-day.  But, also like the 3 weeks prior, when the week ended Friday, rates were right back where they started from Monday. For the 4th straight week, mortgage rates started and ended the week essentially unchanged. Whether or not this [...]

The Federal Reserve meets next week for a policy-setting meeting. It’s one of 8 scheduled Fed meetings this year in which the Federal Open Market Committee votes on whether to raise, lower, or leave unchanged the Fed Funds Rate. Based on data compiled by the Federal Reserve Bank of Cleveland, Wall Street’s expectations of the Fed [...]