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Mortgage Rates Stabilize Ahead of Next Week’s Big Fed Announcement; CFPB “Regulation by Enforcement” or Business as Usual?

Mortgage Rates Stabilize Ahead of Next Week’s Big Fed Announcement; CFPB “Regulation by Enforcement” or Business as Usual?

Mortgage rates were steady to slightly lower on average today, confirming the end of a somewhat abrupt correction from last week's 2017 lows. In other words, rates rose quickly during the first days of the week and spent the last 3 days leveling off. To put "abrupt" in context and reiterate yesterday's thoughts, the worst case scenario would be an eighth of a percentage point higher in rate from last week. That's $14/month on a $200k loan. We've certainly seen worse weeks day, but only 2 of them were in 2017. The flat momentum at the end of this week isn't too likely to stick around next week. The Fed will (probably) make a landmark announcement that confirms the start of its balance sheet reduction efforts. This means slightly less bond-buying each month, and could put upward pressure on rates
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