RSS

Tag Archives: FOMC

Fed Statement Reveals Interesting News For Real Estate

Fed Meeting Minutes ReleasedThe Federal Reserve’s statement after yesterday’s Federal Open Market Committee (FOMC) meeting left no doubt as to the Fed’s dual commitment to keeping long-term interest rates down and encouraging economic growth. But there were a few subtle changes to the Fed’s current bond-buying program made during today’s FOMC meeting.

The Fed buying bonds and Mortgage Backed Securities (MBS) works by boosting bond prices, which typically helps with keeping mortgage rates lower. Instead of the Fed’s monthly purchase of $85 billion in bonds and MBS per month, they will now make the call if they want to reduce these purchases, depending how well the economy is performing. Instead of turning this quantitative easing (QE) OFF or ON, they can use the concept of a “dimmer” switch instead. Read the rest of this entry »

Advertisements
 
1 Comment

Posted by on March 21, 2013 in Federal Reserve

 

Tags: , , , , , , , , , ,

What Mortgage Rates Are Doing This Week : Jan 28, 2013

Rates_rising_Jan_28th_2013At the opening this morning, we are experiencing our 3rd day in-a-row of rising rates. What’s up with that? Thankfully, at the moment, they are clawing their way back. Last week, Mortgage rates rose as investors gained confidence in the global economy. China and Europe posted better-than-expected manufacturing rates, U.S. Jobless Claims fell for the second straight week, and the worst of the European debt crisis appears to have passed.

A strengthening economy = Mortgage Rates will go up! Read the rest of this entry »

 
Leave a comment

Posted by on January 28, 2013 in Mortgage Rates

 

Tags: , , , , , , , , , ,

Should I Lock Or Float This Week : December 17, 2012

Todays_MBS_12-17-2012This so-called fiscal cliff is leaving mortgage rate shoppers shaking their heads? First, we are being told, if our congress allows us to fall over that cliff, it will equate to a monthly loss of $530, or more than $6000 per year, for many americans. If this were not enough to worry about, my clients shopping for homes, are also facing the uncertainty of what direction mortgage rates will move – Up? or Down? Last week, rates have started to creep up, and up. Read the rest of this entry »

 
Leave a comment

Posted by on December 17, 2012 in Mortgage Rates

 

Tags: , , , , , , , , ,

Explanation Of The Fed Statement Today (December 12 , 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 tenth consecutive meeting, the FOMC vote was nearly unanimous. Richmond Federal Reserve President Jeffrey Lacker was the lone dissenter in the 9-1 vote. Read the rest of this entry »

 
Leave a comment

Posted by on December 12, 2012 in Federal Reserve, Mortgage Blog

 

Tags: , , , , , , ,

Explanation Of The Fed Statement Today (October 24 , 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 ninth consecutive meeting, the vote was nearly unanimous. And, also for the ninth consecutive meeting, Richmond Federal Reserve President Jeffrey Lacker was the lone dissenter in the 9-1 vote.

The Fed Funds Rate has been near zero percent since December 2008. At the close today, Mortgage Backed Securities ended the day a little worse (rates/fees went up a bit) on the news… Read the rest of this entry »

 
Leave a comment

Posted by on October 24, 2012 in Federal Reserve

 

Tags: , , , , , , , ,

Rates Are Going Down and Fee’s Are Going Up! I Am So Confused.

Putting the FOMC statement in plain EnglishSometimes, things just have a way of working themselves out. My wife hates when I say that, but in this circumstance it is true. If you read my blog a few days ago, I braced my clients for fees to increase on all conventional loans. But thankfully, the news today from The Federal Open Market Committee drove rates right back down. It’s like the fee increase never happened. Why?

Because the Fed voted to leave the Fed Funds Rate unchanged within its current target range of 0.000-0.250 percent. For the eighth consecutive meeting, the vote was nearly unanimous (9-1 vote).

The Fed Funds Rate has been near zero percent since December 2008. Read the rest of this entry »

 
Leave a comment

Posted by on September 13, 2012 in Federal Reserve

 

Tags: , , , , , , , ,

What Mortgage Rates Are Doing This Week : September 10, 2012

Mortgage markets worsened slightly in last week’s holiday-shortened week. As expected, Wall Street took its cues from Europe and from the U.S. jobs market, and mortgage rates moved across a wide range.

Home buyers in Sacramento and would-be refinancing households were greeted with wildly varying mortgage rates, depending on which day they loan-shopped.

According to Freddie Mac’s weekly mortgage rate survey, 30-year fixed rate mortgage rates averaged 3.55% nationwide last week, with an accompanying 0.7 discount points. Read the rest of this entry »

 
Leave a comment

Posted by on September 10, 2012 in Mortgage Rates

 

Tags: , , , , , ,

 
%d bloggers like this: