| Hi Kens,
Money always goes where it is treated best.
Since the election, mortgage rates have been trending up, notably.
And on Wednesday, the Fed bumped the Feds Fund Rate by 1/4%. The Fed bump, by itself, does not mean that mortgage rates will go up by 1/4%. In fact at times, a Fed bump can help to stabilize mortgage rates.
What happened this week though and what caused some market volatility with mortgage rates, was their language about 3 more bumps in 2017, 18 and 19 with the possibility of more, if needed. The market was only expecting 2 more bumps next year, so the Fed created the turbulence. Listen to this mornings Ken's Korner for some more info on this...
What's the double edged sword... yup, listen in for more info.
To Your Success,
Ken and the Crew at FAIRWAY |
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