This is one of his best Wednesday afternoon Updates
The two points you should take away from this video are:
#1 When you hear news of a federal funds increase, that does not affect 1st mortgage rates directly, that affects home equity line rates directly. Mortgage rates are more tied to inflation and the consumer price index.
#2 As of right now, the broker channel in the United States is handling 22.5% of mortgage business. This is the highest percentage since 2009