Fed's meeting notes are out today and GOOD NEWS about mortgage rates.....
by Rick Delgado
on Wednesday, January 6th, 2016 at 12:58pm.
Fed's meeting notes are out today and GOOD NEWS nothing to worry about here. “Almost all” were in favor of raising the Fed funds rate in December with one or two policy makers not comfortable with the decision. Nothing new with the Dot plot which remained unchanged from the prior meeting. Overall the minutes had a dovish tone as a number of policy makers who had concerns about raising rates were quite vocal. Seems to me that the committee will be cautious and gradual when it comes to raising rates on a go forward basis.
10 year note still trading at 2.18%. Mortgage pricing better by 1/32nd post release. Stocks now off 325 points on the Dow. Worst start to the year for the stock market since 2008. 2016 maybe the year to equip your desk chair with a shoulder harness!