Good Morning!
The Fed is to meet later today. Keep in mind, the Fed doesn't set mortgage rates. The Fed's policy rate applies to overnight loans between large financial institutions.
However, if they announce a change to their mortgage backed bond buying policy - that could affect mortgage rates.
Right now the Fed is buying a lot of bonds. For instance, if they announce they will continue to buy bonds at the current rate, or buy more bonds mortgage rates will drop.
We'll see what they do, and I'll let you know.
That's it for today!
Have a great day!
Brett
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