I have a mortgage rate update for you…
The Fed has their meeting on Wednesday. This meeting will include their policy announcements, as well as the Fed’s economic projections.
It is expected that the Fed will say they are going to continue their tapering of Bond purchases. This news will likely cause a bump in mortgage rates, because after all it’s the Fed’s Bond purchases that are keeping mortgage rates as low as they are.
Hopefully there won’t be any other bombshell’s that come out of the meeting, because the markets always seem to over react to this type of news.
At this point the rate market is still low, so if you have been considering refinancing – it’s still a good time to do it!
That’s it for today!
Have a good day today! …and thanks for reading.
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