federal reserve: Fed Minutes Hint At New Economic Stimulus
- 07/13/11 07:42 AM
The Federal Reserve released its June 2011 Federal Open Market Committee meeting minutes Tuesday. It contained no surprises and, as such, mortgage rates in Georgia have idled in the hours since. The Fed Minutes is published 8 times annually, three weeks after each scheduled Federal Open Market Committee meeting. It's the official log of the meeting's conversations and debates. The Fed Minutes is the lengthier companion piece to the FOMC's more well-known, post-meeting press release. As compared to the brief-and-focused press release,by comparison, the Fed Minutes are long and detailed. June's press release was 458 words long. Its minutes totaled 6,889 words. … (0 comments)
federal reserve: What's Ahead For Mortgage Rates This Week : June 27, 2011
- 06/27/11 05:57 AM
Mortgage markets improved again last week on a revised economic outlook for the U.S. economy, and ongoing concerns about Greece and its sovereign debt. Conforming mortgage rates in North Carolina fell last week and now hover near the all-time lows set last November. Adjustable-rate mortgages are especially low. There were three big stories last week that will carry forward into this week. First, the Federal Open Market Committee voted to leave the Fed Funds Rate unchanged in its current target range of 0.000-0.250 percent. This was expected. However, the Fed revised its growth estimates for the U.S. economy lower. This was … (0 comments)
federal reserve: A Simple Explanation Of The Federal Reserve Statement (June 22, 2011 Edition)
- 06/23/11 08:00 AM
Wednesday, the Federal Open Market Committee voted to leave the Fed Funds Rate unchanged within its current target range of 0.000-0.250 percent. The vote was 10-0 — the fourth straight unanimous vote for the nation’s Central Bank. In its press release, the FOMC said that the economy is recovering, although “somewhat more slowly” than what was expected. Labor markets have been weaker than anticipated and the Fed believes that is, in part, a result of higher food and energy costs, and supply chain disruptions as a result of “tragic events in Japan”. Some economic bright spots identified by the Fed include … (0 comments)
federal reserve: What’s Ahead For Mortgage Rates : Week of June 20, 2011
- 06/20/11 08:13 AM
Mortgage markets improved last week as Wall Street managed news on both sides of the economic coin. There were several instances of higher-than-expected inflation – an event that tends to lead rates higher — but weak domestic jobs data and a soft manufacturing report suppressed the damage. Rates were also held low by ongoing issues in Greece. In Greece, the government is currently struggling to meet its debt obligations — despite a restructuring of existing debt negotiated in 2010. Without a plan for its new debt, though, Greece will likely to default on what it owes. Eurozone and international banking leaders … (1 comments)
federal reserve: What’s Ahead For Mortgage Rates This Week : June 13, 2011
- 06/13/11 06:02 AM
Mortgage markets moved in feverish fashion last week, changing with extreme frequency, and eventually ending slightly worse on the week. Conforming mortgage rates fell to a 6-month low Wednesday but, by Friday, they had retreated higher. Last week marked just the second time in 8 weeks that rates in Raleigh increased. During that span, Freddie Mac reports that mortgage rates have dropped 42 basis points, or 0.42%. That equates to a monthly savings of $25.24 per $100,000 borrowed. One reason why mortgage rates have been dropping is that the economy is growing more slowly than projected. In a speech last week, … (0 comments)
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