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Despite Fed Move, Fountain Valley Mortgage Picture Remains Rosy
Posted by Matt Kanoudi on
Last week, following the Fed’s hike in the rates they charge banks, you might expect a matching rise in mortgage rates for Fountain Valley home buyers and refi applicants. If the experts are right, that’s far from a done deal.
The Washington Post headline said it all:
“Mortgage rates move slightly higher but could be headed back down again.”
Mortgage News Daily reported the same: a slight nudge upward, then back down:
“By holding flat, rates remain very close to the best levels seen in more than 8 months.”
The consensus was all but unanimous, with even Freddie Mac predicting that “mortgage rates are likely to follow” Treasury yields—that is, downward.
When the Fed raises the rates banks must pay, it’s only logical to expect the move…
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