Rates Remain Inactive Ahead of Fed Announcement
Going into the final week of April, the mortgage market has not deviated much from the recent trend of inactivity.
This lack of significant movement in either direction can be largely attributed to the idleness in the financial markets that most strongly affect interest rates. However, this is bound to change soon. This upcoming Wednesday, we are scheduled to receive both the first quarter GDP and a highly anticipated Fed Announcement. Reports of a stronger economy could very well lead to higher rates, while a poor Fed outlook could drop rates lower.
Until these announcements occur, the mortgage market is going to be slow to move in any direction. After Wednesday, though, we can likely expect some more volatile activity.
