Mortgage Rates Lowest Since Fed Day
Mortgage rates saw their biggest day-over-day decline of the past several weeks today in response to unexpected news regarding additional tariffs on China. Trump had previously been scheduled to meet with China's President Xi in 2 weeks, but today said there was no reason to do so and that the administration is currently calculating a massive increase in Chinese tariffs. Stocks and bonds immediately responded with the former moving lower and bonds rallying. When bonds rally, interest rates move lower, all else equal. Mortgage lenders use mortgage-backed securities (MBS) to determine what rates they can offer. When bonds move enough during the course of a day, mortgage lenders can reissue higher/lower mortgage rates. Today's big mid-day rally is resulting in fairly widespread improvements. The net effect is an average 30yr fixed rate that is now as low as it's been since the September 17th Fed meeting. For context, today's rates are only a hair lower than October 3rd.
Categories
Recent Posts

Mortgage Rates Slightly Higher Despite No Fed Rate Hike

Federal Reserve votes 9-3 to leave key rate unchanged

Curb appeal can shape buyer interest before a showing

Millennials are putting down roots in Florida

Helping Renters Avoid a Costly Coverage Gap

How Landlord-Tenant Laws Are Reshaping Real Estate Markets

Addendum H Adds Flood Insurance Peace of Mind

The CRSP Contract — Flying Under the Radar

Disclose Any Fees Received From Recommending Real Estate Products or Services

AI Adds New Risks to Florida Deed Fraud
GET MORE INFORMATION

Beverly Amerman
Broker Associate | License ID: BK3235075
