Mortgage Rates Slightly Higher After Fed Announcement

By Matthew Graham

Posted To: Mortgage Rate Watch

Mortgage rates rose at an acceptable pace today, following the FOMC Announcement and press conference. Rates are driven by bond markets (mortgage-backed-securities, to be specific) and bond markets make a big deal of digesting and reacting to Fed policy. The FOMC Announcement is the Fed’s most official statement and has the biggest market moving potential of anything that occurs on a scheduled basis. All that having been said, the statement doesn’t always merit the market movement its capable of producing. Sometimes markets don’t react much at all. Today produced something just slightly more serious than that, but nothing remotely close to its potential. Traders were somewhat surprised to see the Fed’s lack of concern regarding the recent volatility surrounding oil prices, as well as their…(read more)

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