Direction of Rates

Mortgage rates continued lower today following the Janet Yellen’s confirmation hearing before the Senate Banking Committee.  Yellen is the nominee to replace Bernanke as the Chair of the Federal Reserve, and her stance on monetary policy is tremendously important to bond markets (including mortgage-backed securities, which most directly influence mortgage rates).

As you can see from the chart below, Today’s rate of 4.25% is almost right in the middle of range since 2010.

mortgage rates

 

November 15, 2013 by · Leave a Comment

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