Day after the State of the Union we are seeing mortgage rates climb higher as our market sells off. Currently down 11 ticks on day we can expect reprices for the worse this afternoon. FOMC will be reporting this afternoon. There is a slight chance they bring our market out of the gutter today, but I wouldn't count on it.
By in large the trend is rising interest rates... timing is everything in this market, take care in when you lock.
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