"Any move to 4.5 percent to 4.75 percent or even close to 5 percent doesn't necessarily impact somebody buying a home, because I think rates are still very, very low in the scenario," Emerson said. Read More Why the Fed move doesn't matter to mortgage rates That's because mortgage rates tend to track the 10-year Treasury (U.S.: US10Y) yield, which has not moved as much as the short end of the yield curve in advance of the Fed hike. They're pretty much in the same place they were 12 months ago," Emerson said, despite the Fed's "over-telegraphed move" of a quarter of a percentage point increase in the fed funds lending rate. But you're still seeing rates pretty much in the same place that they were 30-60 days ago. "We've seen a little volatility in the marketplace.
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