Posted To: Mortgage Rate WatchMortgage rates moved higher at a quicker pace today, following the release of the Minutes from the most recent Fed meeting. But correlation isn’t necessarily causality in this case. The Minutes provide a more detailed account of the Fed meeting that resulted in September’s rate hike. That rate hike was foregone conclusion and the Fed has been a relative open book in the intervening 3 weeks. In other words, there wasn’t bound to be much by way of surprises. Even so, investors are always looking for clues in this more robust snapshot of the Fed’s decision-making process. As such, it has the potential to cause some market volatility . There was market volatility today–especially for bonds (which directly affect mortgage rates). It’s debatable whether it was purely a function of the Fed. More…(read more)Forward this article via email: Send a copy of this story to someone you know that may want to read it.
Michael Ayoub, Author NMLS ID 6631