03 May Rate watch, Update!

The Fed has expressed their plans for normalization, or the continued reduction in bond buying activities. This means rates will continue to rise.

Rates are already >5.5%, and these behaviors should push them even higher. The Fed will release its policy statement tomorrow at 12pm.

Please check in with your buyers if they have not revisited their preapproval. Here is a short and super informative update on our markets:

https://www.mortgagenewsdaily.com/markets/mortgage-rates-05022022