Fed Meeting Today- Will Rates Stay This Low?

With the Fed announcement later this afternoon, the general consensus so far is "no news is good news" and no major changes will be made to monthly bond purchases which have kept rates at lower levels for an extended period of time.  

The government shutdown has backlogged releases of economic data which impacts how bonds are priced, and more importantly to consumers, interest rates available for mortgages.  With bond traders having no data to rely on to impact how interest rates are priced, we have been drifting in "no man's land."  The first dose of delayed data was last week's NFP report.  This is the monthly Jobs Report, which was less than encouraging and moved interest rates into 4 month lows that we have not seen since this summer.  

This would present an excellent opportunity for rate shoppers to "get off the fence" and lock into near historical low rates.  

Please visit buythechi.com for any mortgage related questions or news.  Or call Justin Dudek at (630)608-0289