Mortgage rates are unchanged today.
All eyes are on the Fed today. The Fed will meet for a one-day monetary policy meeting and release their policy statement later on. In the midst of a soft economic climate the markets are hoping that the Fed will step up and provide additional stimulus. However, real short-term and long-term rates are already near zero so it doesn’t seem as though interest rates is the problem.
I don’t expect the Fed to announce anything new today which may pressure rates slightly higher.
I will shift to a locking position in the near-term.
Current outlook: locking near-term