The Federal Open Market Committee voted to leave the Fed Funds Rate within its target range of 0.000-0.250 percent. In its press release, the FOMC noted that the U.S. economy “has continued to pick up”, that the jobs markets is getting better, and that housing market has shown “some signs of improvement” lately. It’s the… Continue Reading
Tag Archives: Fed
The Federal Reserve’s Relationship To Mortgage Rates
The Federal Open Market Committee meets today for the last time in 2009. It’s a 2-day meeting and the Fed is expected to leave the Fed Funds Rate near 0.000 percent. But that doesn’t mean mortgage rates won’t change. See, a major misperception among the public is that the Federal Reserve sets mortgage rates. That’s false. … Continue Reading
What’s Ahead For Mortgage Rates This Week : September 21, 2009
After improving in the two prior weeks, mortgage markets finished last week unchanged overall. Mortgage rates were down early in the week but managed to give up all of their gains late-Friday afternoon. It’s the same volatility variety we’ve seen in most weeks this year. Markets moved on to both positive- and negative-type news last week. … Continue Reading
Ben Bernanke Leaves Clues About The Future Of Mortgage Rates
On the 1-year anniversary of the Lehman Brothers collapse, Fed Chairman Ben Bernanke said Tuesday that the “recession is very likely over at this point”. His comments were supported by a Retail Sales report for August that was much better-than-expected. Equities improved on the day, mortgage markets worsened, and home affordability suffered. The days of ultra-low… Continue Reading
A Simple Explanation Of The Federal Reserve Statement
The Federal Open Market Committee voted to leave the Fed Funds Rate within its target range of 0.000-0.250 percent. It also reiterated plans to support the mortgage market to the tune of $1.5 trillion. In its press release, the FOMC noted that the U.S. economy is ”leveling off” and that financial markets continue to improve. The… Continue Reading
How The “Fed Minutes” Can Change Mortgage Rates And Home Affordability
Mortgage rates fell after the Federal Reserve released its April 28-29, 2009 meeting’s internal notes Wednesday. Officially known as “Fed Minutes”, the report is an in-depth account Federal Reserve’s last get-together, detailing the discussions and decisions that create our country’s monetary policy. It’s the lengthy companion to the Federal Reserve’s brief, post-meeting press release. For comparison’s… Continue Reading
How The Federal Reserve Could Swing Mortgage Rates This Afternoon
The Federal Reserve adjourns from its two-day meeting this afternoon. It’s one of 8 scheduled meetings each year for the Federal Open Market Committee. Like all FOMC get-togethers, the purpose of the meeting is to discuss financial and economic conditions in the U.S., and to make new policy to stimulate or retard economic growth, when necessary. The Federal Reserve’s… Continue Reading