Why Wednesday, Thursday, and Friday Should Be Wild Days For Mortgage Rates This Week

The last Fed meeting just finished up, but markets are already looking ahead to the next one, a two-day affair October 30-31. If you'll remember, in the immediate aftermath of the Fed's announcement to lower the Fed Funds Rate by 0.500%, mortgage bonds were the hit of the party and everybody wanted to dance. Rates on mortgages plunged immediately, despite the corresponding decline in the dollar pushing the value of the underlying bonds lower. It didn't really make sense at...

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[Source: The Mortgage Reports Blog]