Mortgage Rate Hits 10 Month Low



.5% seems insignificant. Seems like the fake news overhyped the rise and has underhyped the drop.


However, bigger moves are on the horizon. On Wednesday, the FOMC preached patience when considering interest rate increases, as expected, and eliminated any reference to “further gradual increases,” which came to some as a surprise. As often occurs when the FOMC statements catch markets off guard, bond yields fell on the announcement of a pause on future rate hikes. Mortgage rates seem certain to follow in-step.


Refinance if you can. Better lock in a good rate in case it goes up again in 2020


And they keep on dropping…