The final quarter of 2017 was full of market-moving headlines, including a rise in the short-term Fed Funds Rate, which is the rate at which banks lend to one another overnight, along with the passage of the Tax Cuts and Jobs Act.
The tax bill energized markets, pushing U.S. Stocks to record highs. The rally was further bolstered by a solid economy and a strong labor market.
Historically, when Stock prices improve, Bond prices and the home loan rates tied to a type of Bond known as Mortgage Backed Securities often worsen. Despite the recent Stock-friendly news, home loan rates remained just above all-time lows.
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