Mortgage Rates Improve on Fed Announcement - 01/27/12 02:41 PM
Wednesday's Fed announcement was very favorable for mortgage rates. This week's mixed economic data, Treasury auctions, and news from Europe had little influence. As a result, mortgage rates ended the week lower.
The forecasts from Fed officials for the fed funds rate contained some major surprises for investors. Fed officials now expect that economic conditions will allow the fed funds rate to remain at exceptionally low levels until at least "late 2014". Prior statements extended the expected time frame only to mid-2013. In addition, comments from Fed Chief Bernanke suggested that Fed officials would like to see stronger economic growth, … (0 comments)

 

Jim Kochakian

Methuen, MA

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Greenpark Mortgage, a Division of Berkshire Bank

Address: 232 Pleasant Street, Methuen, MA, 01844

Office Phone: (978) 688-2480 x 12

Cell Phone: (978) 835-7413

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