WEEKLY MORTGAGE WATCH - APRIL 9, 2017

FIRST TEAM’S WEEKLY MORTGAGE WATCH (APRIL 9TH, 2017). Mortgage rates drifted slightly lower again last week, with mixed economic news. While US military action can often impact markets, the airstrikes in Syria had a somewhat tempered impact. The Fed’s meeting minutes did contain some important news. At some point later this year, the Fed will begin to wind down its massive holdings of Treasuries and Mortgage-Backed Securities. We’ll have to wait to see the exact impact, but if private markets don’t have much appetite for the securities, rates will tend to drift upward. March's employment report was very mixed, with unemployment falling to the lowest level.