Mortgage Rates Still Near Lows After Powell Testimony

Posted To: Mortgage Rate Watch

Whereas mortgage rates were almost undetectably higher yesterday, they were lower by roughly the same insignificant amount today. In either case, and unless they make a much bigger move, they're generally hanging out near the lowest levels in more than a year. For the sake of context, if we're talking about the rate range prior to January 2018, today's rates would be the highest since April 2014 by a wide margin. Today's big to-do was the congressional testimony from Fed Chair Jerome Powell. The Federal Reserve had an active week of communications last week, with numerous members talking about the Fed's plans to make a fairly important change that would affect its bond buying policies (and thus, mortgage rates). Rather than shed any light on that discussion, Powell kept it general and simply...(read more)

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