Mortgage RatesÃ‚Â eased just a bit more today, marking the 4th day of relative stability after a sharp rise last Thursday. Ã‚Â Although there was a Fed announcement today, and although Fed announcements are typically capable of causing massive market movement, it was a relative non-event this time around. Ã‚Â Instead, the modestly positive interest rate environment came courtesy of ongoing uncertainty surrounding the presidential election.
Of course the Fed announcement very easily could have caused a big move in rates, had it contained any significant surprises. Ã‚Â For instance, if the Fed opted to raise rates today, or to firmly comment on a potential December rate hike, things could have been different. Ã‚Â Instead, they made only small changes–the kind that could be used by either side to argue the odds of a rate hike next month. Ã‚Â