Congratulations to the people who locked in yesterday morning. You have a great rate. By Tuesday afternoon the bond market was down (which is bad news) and banks quickly repriced their rates by almost .25%. Today the bond market is still a little off - waiting for Beige Book results.
Closing in the next 30 days? consider locking in now. Rates may move higher again later today.
Officially known as the Survey on Current Economic Conditions, the Beige Book, is published eight times per year by a Federal Reserve Bank, containing anecdotal information on current economic and business conditions in its District through reports from Bank and Branch directors, and interviews with key business contacts, economists, market experts, and other sources. The Beige Book highlights the activity information by District and sector. The survey normally covers a period of about 4-weeks in duration, and is released two weeks prior to each FOMC meeting, which is also held eight times per year. While being deemed by some as a lagging report, the Beige Book has usually served as a helpful indicator to FOMC policy decisions on monetary policy.
POTENTIAL IMPACT ON INTEREST RATES: Medium
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