WEEKLY RATE – THE FOMC RAISES THE FEDERAL FUNDS RATE A .25%
I hope everyone is having a fantastic week!!
In this weekly rate, we discuss:
– This week in interest rate pricing
WEEKLY INTEREST RATE PRICING:
The Federal Open Market Committee (FOMC) raised the Federal Funds rate .25% again on Wednesday, March 21st. This put rate pricing at 4 year highs on Wednesday morning, but then the market improved a couple hours later.
The FED outlined 3 to 4 rate hikes in 2018 as a whole, and more rate hikes in 2019 and 2020. Although the Federal Funds rate does not directly affect interest rates, it does play a role.
The Mortgage Backed Security market finished the week strong, ending the week trading up +2 bps. This has been the story for most of March. Some see-sawing , but interest rates staying in a very narrow range.
I still think the risk in floating is not worth the reward.
Below are today’s interest rates and links to get a free rate quote or apply online.
Have a great week!!
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WEEKLY RATE – THE FOMC RAISES THE FEDERAL FUNDS RATE A .25%
