Monday, March 19, 2018

"Mortgage Rates Maintain Flat Trajectory Ahead of Fed"

by Bill McBride on 3/19/2018 06:26:00 PM

From Matthew Graham at Mortgage News Daily: Mortgage Rates Maintain Flat Trajectory Ahead of Fed

Mortgage rates have been on a tear recently, moving sideways with reckless abandon. Since the middle of February, the "effective rate" (based on actual rate sheet offerings and upfront costs) has held inside a narrow range of 4.52% and 4.58%. This lies in stark contrast to the persistent move higher during the first month and a half of 2018 which saw the same effective rate rise from roughly 4.0% into the 4.5% range.

When rates are as flat as they are on the approach to a key market event like this Wednesday's Fed announcement. We often see a break in that narrow range after the key event. [30YR FIXED - 4.5-4.625%]
emphasis added
Here is a table from Mortgage News Daily: