A quiet past week in economic news caused mortgage rates to worsen slightly. This week, however, will be packed with economic reports which may have an impact on interest rates going forward. Freddie Mac reported that the average rate for a 30-year fixed rate mortgage rose by 3 basis points from … [Read more...]
Breaking Down The Federal Reserve Statement (January 2013 Edition)
January 31, 2013 by
The Federal Reserve's Federal Open Market Committee (FOMC) voted to maintain the Federal Funds Rate within its current range of zero to 0.25 percent, and to continue its current stimulus program of purchasing $85 billion monthly in Treasury bonds and mortgage-backed securities (MBS). Citing … [Read more...]
A Simple Explanation Of The Federal Reserve Statement (March 13, 2012)
March 14, 2012 by
Mortgage rates are determined by many factors and can vary day to day. One of the biggest influences on mortgage rates is the Federal Open Market Committee (FOMC). They meet several times a year to assess the economic outlook of the nation and determine a course for a stronger economy. Tuesday, … [Read more...]
