Mortgage rates reacted favorably to today's Federal Reserve announcement and press conference--today's key events. But that doesn't mean every lender is in better shape than yesterday. The morning hours saw the bond market (which dictates rates) at weaker levels. Weaker bonds = higher rates, all other thing being equal. It wasn't until the 2pm Fed announcement that bonds began to improve, thus opening the window for mortgage lenders to issue new rates. Unfortunately, some lenders are less prone to mid-day reprices than others. There's also always a healthy fear of volatility in the bond market after the Fed announcement, even if bonds start out moving in a friendly direction.
On a final note, the press conference with Fed Chair Powell didn't start until 2:30pm. By the time he was done answering questions, it was getting to be a bit too late in the day for a few lenders to make any changes. The good news about all of that is tomorrow's rates will almost certainly reflect today's bond market improvements (assuming the lender in question did not, in fact, change rates this afternoon AND that the bond market is able to maintain current levels by tomorrow morning). For more detailed coverage on how the Fed affected bond markets today, check out my daily recap dedicated to bond markets and mortgage-backed-securities (MBS) HERE.