Mortgage rates fell last week during the shortened trading week

FOMC_Meeting

Last week mortgage rates fell during the shortened trading week. Existing home sales rose in October after under-performing for most of 2017. October durable goods were weak, but this came after a very strong September (upwardly-revised), so the market didn’t pay much notice.

Mortgages got their direction for the week on Wednesday when the minutes from the November FOMC meeting kept December tightening on-track but painted a picture of a deeper split at the Fed between those who want to continue to tighten / normalize and those who worry about continuing to raise rates into low inflation.

Source: Caliber Home Loans

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