Wednesday, January 29, 2014 - Article by: Bart Castelli - Homestar Financial Corporation NMLS #70864 -
It's Fed Day! The last Fed statement in the reign of Ben Bernanke will be released this afternoon at 1:00pm CST. Today will prove to be volatile as traders position before and after the Fed's FOMC (Federal Open Market Committee) announcement. Depending on if the Fed continues to taper off their bond purchases (as was done in December), we could see Mortgage Back Securities (MBS) movement that could either improve or worsen rates. There is quite a bit of risk of more mortgage rate increase, so be sure to monitor the market in real time and stay ahead of lender's increasing rates. A lot can happen as we have discussed when we hit this fork in the road.
With stock prices already falling today, we are seeing a push in Bond prices higher ahead of this afternoon's Fed statement. My recommendation is to wait and have your finger on the trigger if the market does not ease back on the tapering.
For any questions in regards to your financing, give me a call at 314-744-7806, or visit my website at www.CallTheMoneyMan.com.
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