Tag Archives: Taper

For the first time in over a month, mortgage rates have dropped below the 3% mark, signaling a strong finish for the purchase and refi markets to close out 2021.

On the heels of the Fed’s tapering announcement, mortgage apps climbed over the previous week, led by an uptick in refis.

Citing the “cumulative progress toward maximum employment and the improvement in the outlook for labor market conditions” since the start of the current stimulus program in 2012, the Federal Open Market Committee decided at its March meeting to reduce purchases of agency mortgage-backed securities to a pace of $25 billion per month and to dial back purchases of long-term Treasury securities to a pace of $30 billion each month, starting in April.