Saturday , 23 January 2021

New Home Sales Still Soaring; Refi Apps Too; Mortgage Rates Little-Changed But The Fed Raises Some Doubts

Mortgage rates have been operating relatively close to their all-time lows recently and today was no exception. The Fed raised some doubts as to how much longer that would be the case this afternoon when it released the minutes of its most recent policy meeting (from 3 weeks ago). The Fed questioned whether its mortgage-specific bond buying was having any ill effects. That’s only a vague hint of a threat, to be fair, but on top of that, market participants also felt the Fed did less than expected to telegraph any enhancement of its bond buying plans (something that traders saw as a stronger possibility for the upcoming Fed announcement in mid-December). The market reaction was almost negligible in the bigger picture, but it looks like it would give a modest bump to rates if markets had more

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