WEDNESDAY AFTERNOON UPDATE:
This week’s FOMC meeting has adjourned with an announcement of a quarter-point increase to key short-term interest rates. This was widely expected and hasn’t had a noticeable impact on the markets or mortgage rates. The post-meeting statement and updated economic predictions gave us mixed results. The statement noted that the Fed’s economic outlook has strengthened recently but also indicated household spending and business investments have softened since the end of the year. Their economic projections show a stronger rate of GDP growth for 2018 and 2019 than previously estimated.
30 yr - 2.89%