November 21, 2024 9:17 pm
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Mortgage rates jump after Fed hints at rate increase

mortgage-applications-rise-as-consumers-capitalize-on-low-interest-ratBy Matthew Graham | Mortgage News Daily

Mortgage rates moved quickly higher after today’s Fed Announcement. While the Fed was, by no means, expected to hike rates in October, there was a risk that the statement would introduce some verbiage that opened the door for a rate hike in December.

Those of us that saw this verbiage change as a possibility figured it would be a clear warning about where the Fed’s collective minds were. Reason being: the recent economic data hasn’t really justified any acceleration in the rate hike timeline, so if the Fed STILL insisted on alluding to a December hike, we’d know they were fairly serious about it.

Continued:

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