April’s Mortgage Rates Idle
We’ve passed the midway point in April, and the outlook for the mortgage market is pretty flat. Despite volatility in underlying financial markets, mortgage rates can’t seem to get any significant momentum in either direction. As of the seventeenth, it is the third consecutive day of minimal movements in rates.
This lull in mortgage rate movements can be attributed to the mixed messages coming from Fed officials. Lenders are looking for definitive signals regarding an imminent rate hike. With this in mind, the common wisdom is to favor locking into current rates; it is entirely possible that rates will move significantly higher without departing from observed trends. Meanwhile, the market is looking forward to the FOMC Announcement on April 29th, representing the next event that presents a good chance to initiate greater movements in rates markets.
