WEEKLY RATE – Rates Slightly Lower After FED Rate Hike

WEEKLY RATE – Rates Slightly Lower After FED Rate Hike

The Federal Open Market Committee (FOMC) met on Wednesday and raised the Federal Funds rate again and also made strong suggestions with their commentary that a 4th rate hike is likely by December of 2018.

While the Federal Funds Rate doesn’t directly correlate to interest rates, it does affect where the market is going.

Although rate pricing improved slightly last week with Mortgage Backed Security (MBS) Market trading up + 35 bps, the broader trend is for rate pricing to continue to move higher.

Currently a well qualified buyer can get an interest rate of mid to high 4%’s (APR high 4%’s to low 5%’s) depending on closing costs considerations. Most projections expect that number to be in the low 5%’s by the end of the year. 

Many expect that the higher rates could cause a housing market bumble but with low inventory and high demand in most markets and a bustling economy – I see steady home appreciation continuing.

In most markets, it’s cheaper to buy than rent a comparable a home.


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Reggie Green, Team Green, and Fairway Independent Mortgage in Scottsdale, Arizona, McCormick Ranch, Fairway Independent Mortgage McCormick Ranch is dedicated to providing all the best mortgage products and customer service to assist you in your home purchase or refinance in Arizona, California, Colorado, Washington, Georgia, Michigan and Virginia. Below are the products and Mortgage Rate Sheets we offer for fixed mortgages, ARM mortgages, Variable Mortgages, Interest Only Mortgages, HARP mortgages, HARP 2.0 mortgages, HARP 3.0 mortgages, DU Refi Plus Mortgages, Freddie Mac Open Access Mortgages, Fannie Mae Home Path Mortgage, Freddie Mac Foreclosure Relief Mortgage, VA mortgages, VA Interest Rate Reduction Loans, FHA mortgages, FHA streamline refinance mortgages, Conforming mortgages, Conventional Mortgages, 100% Financing Mortgage, High Balance Mortgages, Fannie Mae mortgages, Freddie Mac Mortgages, No appraisal refinance, 0 point mortgages, 0 closing cost mortgages, paying a point mortgages, Refinance mortgages, purchase mortgages, and Jumbo Mortgages. Fairway Independent Mortgage Corporation, Fairway Independent Mortgage McCormick Ranch, Team Green. Reggie Green. FairwayAZ, Fairway McCormick Ranch, Fairway Mortgage. June 19th 2018 30 year fixed rates, June 20th 30 year fixed rates, June 21st 30 year fixed rates, June 22nd 2018 30 year fixed rates, June 23rd 2018 30 year fixed rates, June 24th 30 year fixed rates, June 25th 2018 30 year fixed rates, June 26th 2018 30 year fixed rates.

WEEKLY RATE – Rates Slightly Lower After FED Rate Hike