Mortgage Rates Hold Near 8-Month Lows After Fed

Mortgage rates fell modestly this week, keeping them in line with the best levels in more than 8 months. Even though the Fed hiked its short-term rates on Wednesday, mortgages (and other longer term rates) had already adjusted for that likelihood and instead responded to economic data that suggested the Fed would have a tougher time continuing to hike in the future. The solid performance keeps rates in a gentle downtrend over the past 3 months. Risk-tolerant clients are typically best-served by floating their rates while these trends remain intact. If rates break above the trend, it would serve as a cue to lock. Risk-averse clients are more interested in the fact that rates are near those 8-month lows, and should generally be locking. In either case, make sure to discuss your strategy with

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