Mortgage Rate Lock Strategies For Tomorrow?s FOMC Meeting

The Fed Funds Rate is in a "target range" of 0.000-0.250 percent -- the lowest it's been history. It's a stimulative position for the economy and markets don't expect the rate to change. Based on trading in Fed Funds Futures, Wall Street predicts with 100% certainty that the Federal Open Market Committee will vote to leave the Fed Funds Rate unchanged. However, just because the Fed Funds Rate will be staying as-is doesn't mean that mortgage rates will, too.