Rates also took a breather after three weeks of consecutive increases
As broadly predicted, the Fed hiked the benchmark interest rate this week. But what does that mean for originators?
Mortgage applications decreased 3.9% from one week earlier, while rates decreased on all five types of loans last week, a full-reversal of the prior week’s increases in interest rates.
The focus from markets on the FOMC meeting this week is whether or not it will remove the word "patience" in guiding markets on when the Fed will begin increasing rates. Markets see patience suggesting the Fed isn’t ready to think about increasing rates
In its recent report, the CFPB uncovered several issues relating to mortgage origination violations.
Compared to Tuesday the stock market was quiet yesterday,the bond and mortgage markets slightly better but nothing substantial and still bearish Today we get some key data with February retail and sales.
Another decline from current oil prices and the selling is very likely to resume taking the price down in another leg lower. If that happens stocks are going to fall further and we will have another opportunity at lower mortgage rates. It
With the positive unemployment report this morning the momentary concern is the first rate hike has returned to June from later this year.