Market is Strong, Making for a Great Opportunity

Today is Fed day.  At noon MST, we will receive the official announcement.  Despite recent signs of economic slowing, the Fed will move forward with their plans to increase rates.  Hopefully, this will help slow the rapid growth rate the stock market has experienced since the election announcement of President Trump.  However, it could take more than a higher Fed Funds rate to implant fear within stock investors.


The bond market opened significantly higher this morning, as news of tame inflation, slowing retail sales numbers and a shooting at a Congressional baseball game drove bond prices higher.  These three forces combined to help drive mortgage bond prices above their 200-day moving average.  Further, the yield on the 10 Year Treasury Note fell beneath its 200 DMA as well, which is helping support lower mortgage interest rates.  This is great news for those needing a mortgage in the near term.


With today’s Fed announcement, we could see bond prices lose some steam after a rate hike is announced.  Now is a great time to lock.

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