WEDNESDAY UPDATE: 03/20th
Today’s FOMC adjournment and economic projections yielded little surprises. The meeting adjourned with no change to key short-term interest rates and the Fed outlook on the economy is slightly weaker than previously estimated. Their prediction for Gross Domestic Product (GPD) growth is now between 2.3% and 2.8% while they believe that the U.S. unemployment rate [...]
Mortgage Rates Improve after yesterdays January 2013 FOMC Statement
Reposted from http://themortgagereports.com by Dan Green This week’s FOMC meeting has adjourned with no change to key short-term interest rates or the Fed’s bond buying program. The lack of a change to interest rates was widely expected, but there was a lot of debate about the Fed maintaining their current stimulus programs. The news of [...]
What Will Happen with Massachusetts Mortgage Rates this Week? 1/7th
Inquire within for current Mortgage Rates or Guidelines bc@SmarterBorrowing.com 617.771.5021 Overall, it would be easy to say this will be a calm week for the mortgage markets due to the lack of important or highly influential events scheduled. I would not be surprised to see stocks move lower for the week, helping to push funds [...]
Mortgage Rates Respond To December 2012 FOMC Statement
By Dan Green (NMLS #227607) for themortgagereports.com Mortgage rates are worsening after the Federal Reserve’s December 2012 FOMC meeting. For the third straight meeting, the nation’s central banker described the U.S. economy as improving; expanding “at a moderate pace”. The group also re-affirmed its plan to buy mortgage-backed bonds as a means to suppress mortgage rates [...]
Mortgage Rates Fall to Record Lows With 30-Year at 3.34%
By Prashant Gopal for businessweek.com U.S. mortgage rates declined to record lows, dropping borrowing costs after applications for refinancing rose for the first time in six weeks. The average rate for a 30-year fixed mortgage dropped to an all-time low of 3.34 percent in the week ended today from 3.4 percent, McLean, Virginia-based Freddie Mac [...]
Mortgage Rates Remain Near All-Time Lows At 3.40%
By Dan Green (NMLS #227607) for themortgagereports.com Mortgage rates continue to hang near all-time lows. The 30-year fixed rate mortgage now averages 3.40% nationwide for conforming home loans via Freddie Mac, and the 15-year fixed rate mortgage averages 2.69%. The rates are available for borrowers wanting to pay 0.7 discount points at closing. This week [...]
Lock or Float a Mortgage Rate? How to Decide
Original post by Marcie Geffner Whether to lock or float a mortgage rate is a crucial question for borrowers. And it’s not easy to answer. Here’s a look at what to consider when deciding whether to lock or float a mortgage rate. Why Lock? All interest rates are subject to risk due to market fluctuations. [...]
THURSDAY FED MEETING – MORTGAGE RATES
Today’s FOMC adjournment has brought us some very favorable news that has rallied the markets. As many had expected, Mr. Bernanke and friends have announced another Quantitative Easing (QE3) campaign to help keep long-term interest rates low. What did surprise many though was the announced open-ended campaign. In previous QE programs, a fixed amount of [...]
Wednesday Afternoon Mortgage Market Update
The FOMC meeting has adjourned with no action taken by the Fed in terms of interest rate projections or new measures to boost economic activity. They did say that they will continue to monitor different situations and watch new information, indicating they are ready to act if needed. Still, the lack of a more concrete [...]
bc@smarterborrowing.com 617.771.5021
