Market Commentary | November 1, 2013

By
Mortgage and Lending with Caliber Home Loans, Inc NMLS# 246871

 

by Caliber Home Loans, Inc or special contributors on 11/01/13

Weekly Update | November 1, 2013

 

Mortgage rates worsened this week after Wednesday afternoon's results of the Federal Open Markets Committee (FOMC) meeting were interpreted as slightly less dovish on Fed-policy tapering than they were at their previous meeting. While the FOMC revealed that interest rates and Fed-policy tapering will remain unchanged, they removed a reference that stated how rising mortgage rates and tightening financial conditions present downside risks to employment and economic growth. The remaining results were similar to the last FOMC meeting, with the Federal Funds Rate remaining between 0 and 25 percent, and unemployment and inflation targets for tapering staying at 6.5 percent and 2.5 percent, respectively. Although the meeting results spread a slightly less-dovish outlook, expectations for the Fed to begin policy tapering continue to vary from as early as December to April 2014.

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