Mortgage Market News for the week ending May 31, 2013. Shifting expectations for the timing of the Fed’s move to taper its bond purchases were the main influence on mortgage rates this week and caused extremely high levels of daily volatility. Stronger than expected economic data and comments from Fed officials caused investors to think…
May 28, 2013. Like guests feeling the first rain drops at a Memorial Day barbeque, markets responded uncertainly to Federal Reserve Board Chairman Ben Bernanke’s congressional testimony and the newly released Federal Open Market Committee (FOMC) minutes last week. Generally, both Bernanke’s comments and the FOMC minutes reiterated what the Fed has been saying for…
Mortgage Market News for the week ending May 24, 2013. For months, investors have been focused on the question of when the Fed will begin to scale back its massive bond buying program. On Wednesday, comments from Fed Chief Bernanke and the Fed Minutes caused investors to think that the tapering may begin sooner than…