03/20/2023
๐ก ๐๐ผ๐ฟ ๐๐ต๐ฒ ๐๐ฒ๐ฒ๐ธ ๐ผ๐ณ ๐ ๐ฎ๐ฟ๐ฐ๐ต ๐ฎ๐ฌ, ๐ฎ๐ฌ๐ฎ๐ฏ
๐ฅ๐ฒ๐ฐ๐ฎ๐ฝ ๐ผ๐ณ ๐น๐ฎ๐๐ ๐๐ฒ๐ฒ๐ธ: ๐ฅ๐ฎ๐๐ฒ๐ ๐บ๐ผ๐๐ฒ๐ฑ ๐น๐ผ๐๐ฒ๐ฟ ๐
Mortgage rates improved again last week, for a second week in a row, as concerns about the global banking system continued to lead markets to believe that the Fed will not be able to raise rates as high as was expected just a few weeks ago.
๐ ๐ผ๐ฟ๐๐ด๐ฎ๐ด๐ฒ ๐ฅ๐ฎ๐๐ฒ ๐๐ผ๐ฟ๐ฒ๐ฐ๐ฎ๐๐: ๐ฅ๐ฎ๐๐ฒ๐ ๐๐ถ๐น๐น ๐ฏ๐ฒ ๐๐ผ๐น๐ฎ๐๐ถ๐น๐ฒ โ ๏ธ
This week could see some of the most volatile mortgage rates we've seen in months, with rates moving day-to-day as well as during the day, depending on how the Fed meeting plays out and if there is anymore fallout in the banking sector. This is a good week to stay in close contact with your mortgage professional.
๐๏ธ ๐ช๐ต๐ฎ๐'๐ ๐ฎ๐ณ๐ณ๐ฒ๐ฐ๐๐ถ๐ป๐ด ๐ฟ๐ฎ๐๐ฒ๐ ๐๐ต๐ถ๐ ๐๐ฒ๐ฒ๐ธ:
Fed fireworks: The Fed meets this week, and for the first time in over a year there is a question of if it will raise its policy rate and by how much. The Fed will release its policy statement at 2pm ET on Wednesday along with a forecast of its policy rate called the 'dot plot', followed by a press conference by Fed Chair Powell. This is the first time the Fed will be able to comment on the recent 'banking crisis' events after being in a media blackout period ahead of the FOMC meeting. Depending on what is said and how markets react, we could see rates fall lower or move quickly higher.
