Mortgage Rate Trend Index Down: May 24, 2017
Will rates go up, down or remain unchanged?
Vice president of capital markets, CMG Financial, San Ramon, California
Markets are starting to feel that the Fed may back out of its rate increase plan and if this week's meeting notes hint or suggest a delay of the "scheduled" June move, we could see a major shift in markets across the globe. Foreign tensions have slightly relinquished this week which has led to a rather calm mortgage market. Unfortunately, the tranquility is leading to surging home prices. Although many would argue this is a good thing, it has slowed both existing and new home sales.