Bond markets are fighting what some would say is the inevitable. European weakness inspired some drama in the overnight session as EU bonds continued to sell off. This has been one of the major factors driving the US rates up for several days now. British yields are up about 40bps, and US Bonds are up 23 in the 10 year yields. Today the FOMC announcement did little to surprise. There was some talk about a potential hike by year's end, with some dissent as to the probability of that happening. Nobody would be surprised at a December rate adjustment at this point. Bond markets after the meeting took solace in the fact that there was not an overt mention of a hike in November, and clawed their way back to "unchanged" by the close of business. Check back here tomorrow for more mortgage market news and rate updates.
Bookmark this page for mortgage rates:
• 30 year (FRM) rates at 3.57% (+0.01%).
• 15 year (FRM) rates at 2.88% (+0.01%).
• FHA 30 year Fixed rates at 3.40% (+0.05%).
• Jumbo 30 year Fixed rates at 3.72% (+0.01%).
• 5/1 ARM rates at 2.95% (+0.01%).
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