Mortgage markets had a terrible, holiday-shortened week last week as Wall Street responded to worse-than-expected inflation data and action from the Federal Reserve. Mortgage bonds sold off with force, causing mortgage rates to rise for the second week in a row. Last week was a bad week to float a mortgage, to say the least…. Continue Reading
Tag Archives: Federal Reserve
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. 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
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
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