Despite the recent downward trend in mortgage rates and hopes that the Fed was nearing the end of itstightening cycle, rates blasted upward last week. While there are signs that inflation is cooling and theeconomy slowing, the likelihood of the Fed raising rates for longer than expected and keeping them athigher levels before reducing them […]
The Federal Reserve meeting ended as market participants expected, with a quarter-point increase anda slightly more dovish-sounding policy statement. Mortgage rates were already positioned for theincrease, so the rate bump did not impact mortgage rates. However, with Consumer Confidence andthe ISM Manufacturing Index posting below-expectations reading and a more dovish-sounding policystatement from the Fed, mortgage […]
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