Best Day of the Month for Mortgage Rates

Loan CalculatorMortgage rates had their best day of the month today following Fed Chair Yellen’s testimony before the Senate Banking Committee.  That’s part of a 2-day semi-annual update that the Fed gives to congress.  In this modern electronic age, it’s a wholly unnecessary relic from a bygone era when everything that every member of the Fed has said on the record wasn’t instantly available on the web.  And so it has devolved into a painful display of American bureaucracy where congress-people can vent their frustrations or display their ignorance for a quick sound-byte.  All that having been said, markets still treat this as the Fed Chair’s twice-a-year chance to set the record straight in a Q&A format, less constrained by the formalities of official FOMC communications

Read more here

Contact one of our Mortgage Advisors for Home Purchase or Refinance assistance