Mortgage bond prices rebounded last week in light of the Fed’s decision to put their rate-hike program on hold. This means that the Fed is likely to continue their mortgage bond buying program well into 2017. This is good news for mortgage rates because the Fed is the largest buyer of mortgage bonds in the market at the moment. The holiday-shortened week should be a relatively quiet one with a light economic calendar. The bond market is closed on Friday.
SOURCE: CMPS Institute
Thank you Tania Geisinger at Axia Home Loans for providing this market information.