Posted To: Mortgage Rate Watch
Mortgage rates jumped substantially higher today as global markets reacted to yesterday’s Fed announcement. But that’s really just scratching the surface. The Fed is a convenient talking point because simply due to timing and the absence of another obvious, singular source of inspiration. It’s entirely possible that the confluence of other factors would be producing a similar result regardless of the Fed. In fact, the bond market is talking about 8-9 separate potential market movers today. Most of them are fairly esoteric. The Fed’s decision to telegraph a tapering announcement in November is one of the simplest topics, but simpler still is the week-over-week drop in covid case counts in the US. Late September was always going to be important in that regard for several reasons. It’s late enough…(read more)
