A Simple Explanation Of Bernanke’s Statement Today (April 25, 2012)

Putting the FOMC statement in plain EnglishThe Federal Open Market Committee voted to leave the Fed Funds Rate unchanged within its current target range of 0.000-0.250 percent Wednesday.

For the fifth consecutive month, the Fed Funds Rate vote was nearly unanimous. Just one FOMC member, Richmond Federal Reserve President Jeffrey Lacker, dissented in the 9-1 vote.

The Fed Funds Rate has been near zero percent since December 2008. It is expected to stay near-zero through 2014, at least. Continue reading “A Simple Explanation Of Bernanke’s Statement Today (April 25, 2012)”

The Fed Starts A 2-Day meeting. How Do They Influence Mortgage Rates?

Fed Funds Rate vs Mortgage Rates 1990-2012

The Federal Open Market Committee begins a 2-day meeting today in the nation’s capitol. It’s the group’s third of 8 scheduled meetings this year. Mortgage rates are expected to change upon the Fed’s adjournment.

Led by Chairman Ben Bernanke, the FOMC is a 12-person, Federal Reserve sub-committee. The FOMC is the group within the Fed which votes on U.S. monetary policy. “Making monetary policy” can mean a lot of things, and the action for which the FOMC is most well-known is its setting of the Fed Funds Funds. Continue reading “The Fed Starts A 2-Day meeting. How Do They Influence Mortgage Rates?”

What Mortgage Rates Are Doing This Week : April 23, 2012

FOMC meets this weekMortgage markets were mostly unchanged last week, breaking a three-week winning streak. Wall Street grappled with surprising demand on Spain’s debt issuance and a series of weaker-than-expected data points on U.S. housing.

Conforming mortgage rates across California rose slightly according to the weekly Freddie Mac Primary Mortgage Market Survey. Continue reading “What Mortgage Rates Are Doing This Week : April 23, 2012”

California Not Top Foreclosure State!

Foreclosures March 2012

According to foreclosure-tracking firm RealtyTrac, foreclosure filings fell to 199,000 in March 2012, a 17 percent decrease from March 2011. Last month marks the first time since July 2007 that foreclosure filings numbered less than 200,000 on a monthly basis — a span of nearly 5 years. Continue reading “California Not Top Foreclosure State!”

Tax Tip : What Are You Going To Do with your Tax Refund?

The typical U.S. taxpayer will receive roughly $3,000 in federal income tax refunds this year — an average of $250 per month. So, what would you do with an extra $250 monthly? This segment from NBC’s The Today Show offers some advice. Continue reading “Tax Tip : What Are You Going To Do with your Tax Refund?”