Mortgage rates are volatile again, thanks to the Fed.

The last week was a wild one for treasuries and mortgage rates, with a lot of economic data released, a FOMC statement sent out, multiple statements from Federal Reserve members, and a 60 Minutes interview of Fed Chair Jerome Powell. The end result was that mortgage rates briefly went over 7%, and (as of this recording) are hovering at 6.99%, despite having been 6.6% just a few days ago. How did this happen, and what does it mean? Let's discuss a little oral history of the past week and why all the data and statements that were released sent rates soaring.

 As always, if you have any questions or comments (or, of course, need a realtor), feel free to reach out to Stan McCune directly by phone/text at (864) 735-7580 or by email at smccune@cdanjoyner.com.