Mortgage rates continued to rise this week. The economic data released this week did nothing to suggest the Fed will move any slower to reduce their asset purchases. In addition, the European zone economies appear to have finally found a more solid footing, and may provide a window of opportunity for the Fed to start in September. The Federal Reserve’s next policy meeting will be held on Sept. 17 – 18. A Reuters poll released on Wednesday showed a majority of economists expect the Fed to reduce bond purchase at this meeting, with the consensus expecting them to reduce purchase by $15 billion initially. It’s going to take some negative economic news to change the sentiment in the market. The next employment report a couple weeks before the Fed meeting will be extremely important. Until then, rates are likely to continue to drift higher.
Posted on: Fri, 16 Aug 2013 17:39:04 +0000
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