Financial Reports , ,

What’s Ahead For Mortgage Rates This Week -March 23rd , 2020

Last week’s economic reports included readings from the National Association of Home Builders on housing market conditions, Commerce Department readings on housing starts and building permits issued and  National Association of Realtors® reporting on sales of previously-owned homes. The Federal Reserve canceled the scheduled meeting of the Federal Open Market Committee and Fed Chair’s press conference, but the Fed did lower its target federal funds rate early in the week. Weekly readings on mortgage rates and initial jobless claims were also released.  Builder Confidence, Housing Starts and Building Permits Decrease Builder confidence in housing market conditions dropped two index points…
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Real Estate , ,

Could Fed Interest Rate Hike Help Home Buyers?

News of the Federal Reserve hiking interest rates appears to have caused unnecessary panic among people poised to purchase a first home or a larger one for a growing family. Headlines and news reports that talk about interest rates being at their highest since 2014 can be alarming. Announcements from the Fed that rates would increase four times in 2018 and again in 2019 seems downright scary. After all, isn't it logical that increased interest rates mean that monthly mortgage payment could be substantially higher? As it turns out, neither the click-bait headlines about dramatic rate increases or higher monthly premiums…
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Real Estate , ,

Fed Raises Key Interest Rate For 3rd Consecutive Time

The Federal Open Market Committee of the Federal Reserve announced that it raised the target federal funds rate to a range of 2.00 percent to 2.25 percent. This was the third consecutive increase in the Fed's key interest rate and was the eighth time the Fed raised its key interest rate since 2015. In its customary post-meeting statement, Committee members cited strong economic conditions and continued labor market growth coupled with historically low unemployment rates as a basis for raising the federal funds interest rate. Fed Cites Steady Inflation, Healthy Household And Business Spending Further economic conditions cited in the…
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Financial Reports , ,

What’s Ahead For Mortgage Rates This Week – June 13, 2016

Last week's economic news was highlighted by Fed Chair Janet Yellen's speech in Philadelphia. Although Chair Yellen alluded to future Fed rate hikes, she did not specify when Fed policymakers would next raise the target federal funds rate.  Increases in the fed funds rate typically signal increases in consumer credit and home mortgage rates. Last week's speech was seen as a precursor to the Federal Open Market Committee statement that will occur at the conclusion of next week's FOMC meeting.  Chair Yellen is also scheduled to give a press conference after the FOMC statement next Wednesday. Mortgage rates and new…
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