Should be a jittery couple of days for MBS pricing ( Mortgage rates) in anticipation of the Wednesday afternoon statement from the FOMC meeting about the future of the Feds bond buying program. This is the primary factor that has been keeping mortgage rates artificially low for the last few years. As the economy starts to pick up steam , the Federal Reserve will probably curtail bond buying. So as Wall Street prepares for this statement to come out , they are driving up the yields on 10 year T Bills.
If they announce that bond buying will cease (2 comments)
mortgage rates: Historic Low Mortgage Rates, Today is the beginning of the End!
- 12/04/09 12:44 PM
Jobs report came in much better than expected. The unemployment rate dropped for the first time in almost 2 years, form 10.2% down to 10%.Factory orders were stronger than expected.
Do not wait for rates to improve. It isn't going to happen. This is the beginning of what should be a steady increase over a very long time.
As the Employment picture improves & Wall Street rebounds through the end of the year, rates will continue to rise. In my opinion the largest rate increases will begin towards the end of February.That is when the Fed. will have either exhausted their allotted $1.25 Trillion (4 comments)
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