The Smart Team of NOVA® Home Loans

Mortgage Rates Unchanged Heading Into Fed Week

Posted To: Mortgage Rate Watch

Mortgage rates were unchanged today, holding onto modest improvements seen yesterday. In many ways, the past 2 days have confirmed that rates are in limbo near the lower end of the post-election range. To be sure, they were definitively lower in mid-April, but they’re much closer to recent lows than highs. More importantly, current levels have acted as a line in the sand that divides the year’s lowest rates from everything else. In other words, we’d really like to remain in this zone. Whether or not that’s possible may depend on next week’s Fed Announcement (Wednesday afternoon). While the Fed isn’t expected to hike rates this time around, investors will nonetheless attempt to pick up on clues about future policy potential. The average lender continues offering conventional 30yr fixed rates…(read more)

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Source: Mortgage News Daily

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