Have You Heard? Fed Announcement Could Be a Big Deal; Builder Confidence Still High; Ellie on Easing; Apps Falling

Have You Heard? Fed Announcement Could Be a Big Deal; Builder Confidence Still High; Ellie on Easing; Apps Falling

Mortgage rates almost made it through the past two months without any major move higher (except those moves that were correcting the major moves lower following the China-inspired volatility in late August). They ruined their winning/stable streak yesterday as broader bond markets grew increasingly anxious over tomorrow's Fed decision. Apparently, bond markets only needed a day to express that anxiety as today has been extra calm by comparison. Unfortunately , that calmness began at the new, higher rate levels from yesterday afternoon. For most lenders that puts a conventional 30yr fixed at 4.0% for top tier scenarios. But enough about today! The questions on everyone's minds revolve around tomorrow's Fed Announcement. Will the Fed raise its policy rate? What will the effect be on mortgage