Fed Day, September 18, 2013

Sep 18, 2013

Big Day for Mortgage Rates?

We have been waiting for months for today’s Fed decision on tapering Quantitative Easing.  Yesterday’s CPI numbers indicate that inflation remains almost non-existent.  The percentage the employable population actually fully employed is at record lows and the ramifications of Obamacare  are about to be felt by the economy.  Even knowing this  this most economist predict the Fed will begin tapering purchases of both Treasuries and Mortgage Backed Securities.   Since the market has built in an expectation of tapering and if the tapering is concentrated heavily on Treasuries and not MBS, mortgage rates may improve.

 

Paul Cantor

www.paulcantor.info

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