Septembers’ Fed meeting came and gone. Conclusion is more or less the same as before. No increase but the bias is upward. Still expecting minimum one increase of a 0.25% before end of December 2016.
Mortgage rates remain steady since the release of August employment figures. Amid the latest round of Fed speaker talks of rate increases, the anticipation is one increase of a 0.25% for the remainder of 2016. Last increase was in December 2015.
Mortgage rates are back to record low levels reached in 2012. Turmoil and uncertainties in Europe are driving money back into bond markets.
Housing starts and permit declined in January
European Central Bank hinted more QE on the way; Global rates decline in response.
Mortgage rates are flat to down, awaiting for clues on Fed’s initiation on rate hike
Mtg rates jumped higher amid 295,000 new jobs created in February. Unemployment rate dropped to 5.5%
Zillow CEO Spencer Rascoff answered that they’re “a good starting point” but that nationwide Zestimates have a “median error rate” of about 8%.
Fixed vs Adjustable (ARM) mortgage – Because of the lower initial rate on ARM, the savings could be significant. Also due to the rate cap, ARM isn’t as scary as many think in a rising interest rate environment.
257,000 Jobs Created in January, more than expected – sending bond yields up for the 4th day in a roll
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