MORTGAGE WATCH

Mortgage Rates continue to head higher this morning. For the week, mortgage rates have been under HEAVY selling pressure. And it had everything to do with the Fed. In short, markets were somewhat surprised by the Fed’s rate hike outlook. Granted, the Fed Funds Rate (the thing the Fed would actually be hiking) doesn’t control mortgage rates, but the outlook speaks to how quickly the Fed would need to dial back its bond buying programs (aka “tapering”). Those programs definitely help keep rates low. The sooner the Fed begins tapering, the sooner mortgage rates will see upward pressure.

 

SOURCE & AUTHOR |

Keith Murphy Branch Manager – Essex Mortgage NMLS #330827

Direct: 714-309-1140

Apply: www.GoTeamMurphy.com

About the Author

Tim Morissette, also known in the community as Mr. Foothill Ranch, offers over 40 years of real estate experience which has given him an established reputation and unmatched market knowledge. He is joined by his wife, Michele, as they continue to offer personal service with an emphasis on achieving his clients' real estate goals. This unique combination of traits has led to his proven track record of referral and repeat business. This can be witnessed by the trust of homeowners in Foothill Ranch where he has sold twice as many homes and represented three times more buyers than the next-leading real estate agent for the last 20 years.