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There is an 80% probability that the FOMC will skip an opportunity to hike rates when they meet next week and a 52% shot that they’ll hike again in July.  Which is to say, no rate hike on the14th and a coin toss of whether rates jump again in July.  They have jacked up interest rates at each of the last 10 meetings, so it will be nice to take a breather.

Recently though, mortgage rates have moved up on other market factors and haven’t needed any domestic sovereign intervention. We’ll see what tomorrow brings.

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