Rates Hold Steady

Julie C. Nichols General

The past week was one of the quietest ones for mortgage rates in a long time. There was virtually no change in mortgage rates during the week. This was not surprising given the lack of major economic news and the proximity of the upcoming central bank meetings. Mortgage rates remain near the best levels of the year.

Central banks around the world have been a major driving force for U.S. mortgage rates in recent years. Both meetings and speeches from central bankers often have resulted in big moves in mortgage rates. Even the most significant economic reports recently have struggled to cause comparable reactions. Investors are much more interested in hearing what the Fed, the European Central Bank (ECB), and the Bank of Japan have to say about monetary policy. Each will be in the spotlight over the next several days

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