The Federal Open Market Committee voted to leave the Fed Funds Rate within its target range of 0.000-0.250 percent. In its press release, the FOMC noted that the U.S. economy â??has continued to strengthenâ?, that the jobs markets is getting better, and that financial markets are supportive of growth.
Since shedding 300 basis points in December, mortgage bond pricing has recovered a bit more than half of those losses. It’s helping with home affordability and opening new refinance opportunities around the country. This week, though, mortgage rates could rise back up. There’s a lot going on.