Fed speculation rocks mortgage rates this morning!

by John McClellan on September 10, 2014

Fed comments rock mortgage rates this morning!  Mortgage rates have jumped up considerably since yesterday! 

Bloomberg

CNBC

Fed Weighs Change to Rate Guidance for Added Flexibility – This speculation has led to a sell-off in MBS and 10-year TSY this a.m., sparking new fears of higher mortgage rates in the near future.  All signs point to increased upward pressure on mortgage rates as we move into the fall and winter.

 

 
 
 
 
 
 
 
 
John McClellan
Branch Manager
Supreme Lending
NMLS #207768

 

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Mortgage rates are set to drop this morning on a surprisingly Bad jobs report.

Economists had forecasted 225k new jobs, but the Monthly jobs report held only a meager 142k.

MBS and Tsy rallied.  The question is this:  How long will they hold and will these numbers be revised?  At least for today we are seeing mortgage rates slightly lower.

 

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