09/21/2022
"[I]f 7 out of 7 Fed speakers over the past month have all mentioned that they're leaning toward a 0.75 hike to the Fed Funds Rate, it's essentially guaranteed and the bond market has long since changed accordingly.
Because the market can show up to the party so far in advance of the Fed itself, it's not uncommon to see mortgage rates move in the opposite direction of the Fed on the day the Fed actually makes its move."
The following is a copy and paste from a previous piece that always bears repeating on Fed day. If you've seen it before, there's nothing new here. If you haven't, or if you are expecting an immediate and equivalent change in mortgage rates when the Fed announces toda...