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Linda Miller

Mortgage Rates Are Volatile Today

Tuesday, June 16, 2015 - Article by: Linda Miller - Utah Mortgage Advisors - Message

After topping out at 2.50 last week, the ten year Treasury Note has settled into the 2.33 to 2.36 range. Until we see something that pushes the market one way or the other in a meaningful way, we will continue to look for rates to drift upward.What is that something???Greece - According to Sigma Research the talks between Greece and the negotiation team in Brussels broke down over the weekend. Greece has a big payment due on June 30th and is apparently placing all bets on appealing to Europe's leaders to get concessions when leaders meet on June 25th. Until this ongoing Greek drama is over we won't know how it will affect rates.Fed Meeting - Today is the FOMC meeting but it won't be until Wednesday at 2:00 and then 2:30 press conference of Janet Yellen that we will know anything. Most believe the Fed will increase the Federal Funds rate at the Sept meeting; Yellen will remind that the Fed is data dependent on when it will move. I feel like a broken record as it pertains to volatility, but in today's world we have volatile days with zero new information as the market continues to try to find its footing.

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