Today the bond markets reacted to some statements made from the Fed indicating that rates are to remain lower for a longer period of time. This change in the Fed's positioning was expected to some degree across market participants, but the news incited a mini-rally in the markets. Some data to consider. In June, one member of the Fed commitee saw rates under 1.25% by end of year (2017). Now, there are nine with the same position. The reaction to this news was that the 10-year yields dropped lower, but failed to break beyond the 1.65% range, which means that they are still within the range set last Tuesday. We had hoped for a more convincing move, but today didn't quite manage to attain that reaction. Check back tomorrow for more up to date news and mortgage rates.
• 30 year (FRM) rates at 3.47% (-0.01%).
• 15 year (FRM) rates at 2.82% (-0.01%).
• FHA 30 year Fixed rates at 3.30% (+0.00%).
• Jumbo 30 year Fixed rates at 3.62% (-0.01%).
• 5/1 ARM rates at 2.85% (-0.01%).
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