Call (248) 674-6450 For an Instant Pre-Approval!
by Trevor Sines

Mortgage rates rose moderately today, keeping them in line with recent highs.  The run to those highs took place largely over the past week as markets quickly adjusted their expectations for a Fed rate hike at next Wednesday’s meeting.  As of last Thursday, market-implied probability was about as high as it ever gets.  Similarly, rates haven’t moved much from last Thursday.  They were down just slightly on Friday and up by about the same amount today.  

Combine the past few days of limited movement with the bigger-picture post-election range, and there’s a sense that we’re waiting for a verdict about where we go next.  There have been a few similar instances over the past few months (where rates have been waiting for some big news/event to act as a verdict on the range), but rates have generally approached those events from the CENTER of the range as opposed to the upper edge.  

…(read more)

Forward this article via email:  Send a copy of this story to someone you know that may want to read it.

Share this article

Leave a comment

Your email address will not be published. Required fields are marked *