Mortgage Rates Remain Near Recent Lows Despite Fed's Rate Hike

[Robin Simon]

It's often said here, but bears repeating: by the time the Fed officially announces a rate hike, that rate hike is old news and of no further consequence to financial market movement. There are exceptions for times when the hike is bigger or smaller than expected, but in today's case, everyone knew it would be 0.50%.

Does this mean mortgage rates are 0.50% higher today? Not even remotely. In fact, many lenders unchanged compared to yesterday. A few are even slightly better.

Simply avoiding any major upward pressure in rates is a victory today. But why? If the Fed rate hike wasn't the threat, then what was there to be concerned about?

In a word: dots. 

Rest: 

https://www.mortgagenewsdaily....

Good overview from Mortgage News Daily of the recent CPI/Fed Meeting effects on mortgage rates