fed: Market Report 5/08 - 05/08/08 08:46 AM
Mortgage rates ended higher last week on stronger-than-expected jobs data, strong consumer spending, and an appetite for riskier investments. But, investors were most excited about the Federal Reserve's hint that its rate-cutting cycle may be over.
The week was quiet until Wednesday when the Federal Reserve voted to lower the Fed Funds … (0 comments)

fed: Why Mortgage Rates Aren't Falling Even Though The Economy Is Shedding Jobs - 05/08/08 08:43 AM
According to the Bureau of Labor Statistics, the U.S. economy shed 20,000 jobs in April 2008.  The labor force now counts at 146 million people as employed. Normally, a loss of jobs would foretell economic weakness and would be a good thing for mortgage rate shoppers.  Today, though, traders had been expecting … (0 comments)

fed: The Fed's "Non" Impact On Mortgage Rates - 04/30/08 08:28 AM
The Federal Open Market Committee adjourns from its two-day meeting at 2:15 P.M. ET today.  Markets expect the Fed to lower the Fed Funds Rate by 0.250 percent in its press release but it's not what the Fed does that matters to economy right now. 
It's what the Fed says.
If the … (0 comments)

fed: Market Review 3/31/08 - 03/31/08 11:14 AM
Mortgage rates were up last week on weak housing data and a growing nervousness about mortgage bond quality. 
Rates would have been up more if not for a tame inflation reading Friday. 
The Personal Consumption Expenditures report fell Friday to 2.0% year-over-year, putting it back within the Federal Reserve's comfort zone … (0 comments)

fed: Making Sense Out of Fed Speak - 03/19/08 08:52 AM
The Fed lowered the Fed Funds Rate by 0.750% to 2.250% yesterday.
Because it is tied to the Fed Funds Rate, Prime Rate also fell by 0.750% yesterday.  Prime Rate is now to 5.250%. 
Holders of home equity lines of credit and credit card debt benefited from the change and will see lower … (0 comments)

fed: Expect A Fed Funds Rate Cut - 03/18/08 09:13 AM
The Federal Open Market Committee meets today and will issue a press release in addition to cutting the Fed Funds Rate at 2:15 P.M. ET.
The verbiage of the press release will be as widely watched as the rate cut itself because markets are curious about how far the Federal Reserve … (0 comments)

fed: Mortgage Market Rates Report 3/17/08 - 03/17/08 08:47 AM
Mortgage rates fell last week on growing evidence of a recession, but far fewer Americans were eligible to take advantage. 
Mortgage lenders continue to reduce product menus and that is leaving homeowners with fewer mortgage financing options than before.
As an added hurdle, Fannie Mae and Freddie Mac recently added "risk-based" fees … (0 comments)

 
Mortgage Company: John Topa, Mortgage Advisor, First Sunrise Mortgage
John Topa, Northeast PA Mortgage Advisor
Scranton, PA
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John Topa, Mortgage Advisor, First Sunrise Mortgage

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