The plan is to continue to taper the purchasing of mortgage backed securities by $10 Billion per month in the third quarter to a total of $15 Billion per month.
This is not new news; just a reminder that we will see rates rise in the coming months. The other comment made was the FED will continue to keep rates low for a considerable time. My personal thoughts are we will see a gradual increase in rates over time vs. a sudden rise.
I have seen rates tick up in the last week with the anticipation of this announcement.
Today a 30 year fixed is holding onto 4.5% paying zero points (up to a loan amount of $417K); last week we were at 4.375%.