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Mortgage rates and markets change constantly. Stay 100% current by taking The Mortgage Reports by email each day. Click here to get free email alerts, or subscribe to the RSS feed in your browser.
Mortgage markets are a sensitive beast. Just the slightest breeze and they're all shook up. It's one reason why this blog covers such a wide berth. Jobs, housing, consumer confidence, spending -- it's all relevant. Each moves markets in its own right. And when mortgage markets move, mortgage rates move.
The Fed Funds Rate is in a "target range" of 0.000-0.250 percent -- the lowest it's been history. It's a stimulative position for the economy and markets don't expect the rate to change. Based on trading in Fed Funds Futures, Wall Street predicts with 100% certainty that the Federal Open Market Committee will vote to leave the Fed Funds Rate unchanged. However, just because the Fed Funds Rate will be staying as-is doesn't mean that mortgage rates will, too.
