Fixed and ARM rates are up slightly this week on mortgage bond weakness. Factory orders came in stronger than expected today, and bonds took this as a subtle sign that the Fed may only cut 25 basis points instead of 50. They’ve already cut 175 basis points in the past 4 months, and it typically
House Budget Committee
Conforming rates (on loans up to $417k) are down about .25% and Jumbo rates (on loans above $417k) are also down about .25% this morning following the Fed’s surprise intermeeting rate cuts. They came on the back of non-US equity markets dropping 5-10% yesterday and the Dow opening down 464 points. The Fed cut both