Last week’s economic news came from a variety of sources. Most significant was the Fed’s Federal Open Market Committee statement after its meeting ended Wednesday. The statement indicated that the Fed saw moderate economic growth. FOMC did not taper its purchase of MBS and Treasury securities. The FOMC statement announced the committee’s intention to closely monitor economic and financial developments ”in the coming months,” which suggested that the FOMC is taking a wait-and-see position on reducing its $85 billion monthly asset purchases. Mortgage Rates, Jobless Claims Fall The Fed’s asset purchase program, … (0 comments)
Mortgage rates fell for the third consecutive week. According to Freddie Mac, the average rate for a 30-year fixed rate mortgage fell by two basis points to 3.41 percent as compared to last week's 3.43 percent and 3.90 percent year-over-year. The average rate for a 15-year fixed rate mortgage was 2.64 percent as compared to last week's 2.65 percent and 3.13 percent year-over-year. Falling mortgage rates were attributed to reduced consumer spending. Last week's economic news includes the NAHB Wells Fargo Housing Market Index (HMI), with a reading of … (0 comments)
mbs: What's Ahead For Mortgage Rates This Week - March 25th, 2013
- 03/26/13 06:52 AM
What's Ahead For Mortgage Rates This Week - March 25th, 2013 Last week's economic news was dominated by events in Cyprus and the Federal Open Market Committee (FOMC) meeting on Wednesday.
Mortgage rates fell last Monday as investors became concerned over news that a Cyprus bank bailout was in the works. Federal Reserve Holding Course With Mortgage Backed Security Purchases The FOMC met on Wednesday and in a press release after the meeting, noted that no immediate changes to the present economic easing program would be made. The Fed officers will continue to monitor the nation's economy, and are eventually … (1 comments)
What’s Ahead For Mortgage Rates This Week – November 4, 2013
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