A move toward low mortgage rates despite Fed cycle

rate dropBy Matthew Graham | Mortgage News Daily

Mortgage rates pulled off a come-from-behind victory following Wednesday’s Fed Announcement. This time around, the Fed wasn’t at all likely to make any changes to the Fed Funds rate, but investors were still curious to see how the Fed worded the statement in light of January’s market turmoil. As far as Fed statements go, Wednesday’s ended up being noticeably more gloomy and markets reacted accordingly. Stocks and rates both fell in the afternoon.

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