Mortgage Rates Moderately Lower After Yellen Testimony

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 · Financial markets have not reacted sharply to Yellen’s testimony. The S&P 500 was last seen up almost 6 points at 2,089, and the Dow Jones Industrial Average was up.

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Your originator will then sell the loan into a TBA. If you’re quoted a 4% mortgage rate with no points, the lender will fund your loan and then sell it for the current TBA price.

Federal Reserve Chair Janet Yellen. rates and spur growth, the Fed is now buying $65 billion monthly in Treasury bonds and mortgage-backed securities after reducing the purchases from $85 billion a.

In prepared testimony. appropriate,” Yellen said. “Proceeding cautiously in raising the federal funds rate will allow us to keep the monetary support to economic growth in place while we assess.

After trending lower for most part of 2014, mortgage rates have started edging up. Janet Yellen’s first testimony to the Congress as the new Fed Chairperson was the trigger behind the mortgage backed securities (MBS) rout. When MBS go down in price, mortgage rates go up. Yellen made it clear that she would continue the policies seen from Bernanke.

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 · Top takeaways from Fed chair Janet Yellen’s testimony to Senate Banking Committee. associated with getting a new mortgage.. a readiness to lower interest rates for the first time in.

Semiannual Monetary Policy Report to the Congress. During the first quarter of this year, job gains averaged 200,000 per month, just a bit slower than last year’s pace. And while the unemployment rate held steady at 5 percent over this period, the labor force participation rate moved up noticeably.

 · Bond investors remain skeptical of the Federal Reserve’s interest rate targets. Yellen will also likely be pressed on persistently low U.S. inflation. Despite robust jobs growth and U.S. unemployment at just 4.4 percent, inflation has stayed below the Fed’s target rate of 2 percent. On Friday, the Fed said it expects inflation will stay "somewhat.

Mortgage shoppers should also take some comfort from Federal Reserve Chair Janet Yellen’s assurances in her testimony on Capitol Hill Wednesday that inflation is moving at a moderate pace and that the key federal funds rate "is likely to remain below levels that prevailed in previous decades."