ben bernanke: What's Ahead For Mortgage Rates This Week : April 25, 2011
- 04/25/11 04:59 AM
>Mortgage markets improved slightly through last week's holiday-shortened trading sessions. Better-than-expected housing data led mortgage rates higher Tuesday and Wednesday, but rates retreated Thursday morning in advance of Good Friday. Markets were closed Thursday afternoon and Friday. They re-open this morning. Conforming mortgage rates in Illinois ended last week unchanged overall. It's a strange outcome considering that Standard & Poor's issued a downgrade on U.S. debt Monday. In most instances, a debt downgrade would lead investors away from a particular group of securities -- in this case, a group that includes mortgage-backed bonds. However, Wall Street reacted in the opposite. When … (0 comments)
ben bernanke: A Simple Explanation Of The Federal Reserve Statement (March 15, 2011 Edition)
- 03/16/11 04:49 AM
Today, for the second straight meeting, the Federal Open Market Committee voted unanimously to leave the Fed Funds Rate unchanged within its target range of 0.000-0.250 percent. The vote was 10-0. In its press release, the FOMC noted that since its January 2011 meeting, the economic recovery "is on firming footing", and that the labor markets are "improving gradually". In addition, household spending "continues to expand". Nonetheless, the Fed said, the economy remains constrained by rising commodity prices and the "depressed" housing sector. The FOMC statement also re-affirms the group's plan to keep the Fed Funds Rate near zero percent "for … (0 comments)
ben bernanke: Your Mortgage Rate Strategy For Today's FOMC Meeting
- 03/15/11 03:21 AM
The Federal Open Market Committee meets today in Washington D.C. The FOMC is a special group within the Federal Reserve, led by Fed Chairman Ben Bernanke, and consisting of 12 members. The FOMC's official schedule calls for 8 meetings annually at which it reviews the nation's economic and financial conditions, and chooses whether to change existing monetary policy. The group's last rendez-vous was a 2-day affair, January 25-26, 2011. Today's FOMC meeting represents a bona fide risk to home buyers and rate shoppers in Chicago and across the country. This is because when the Fed meets, Wall Street gets nervous which, in … (0 comments)
ben bernanke: What's Ahead For Mortgage Rates This Week : February 7, 2011
- 02/07/11 07:05 AM
Mortgage markets worsened last week as Wall Street came to terms with the expanding economy; and realized the Federal Reserve may be trying to induce inflation. Better-than-expected retail sales and positive job growth buoyed stock markets and sank bonds. Mortgage rates in Illinois rose for the 4th time in 5 weeks last week, extending a losing streak which dates back 4 months. Today, fixed, conforming rates are three-quarters of a percent higher as compared to the market's low point, November 3, 2010. For a $200,000 home loan, that size rate hike equates to an increase in a monthly mortgage payment of … (0 comments)
ben bernanke: What's Ahead For Mortgage Rates This Week : January 3, 2011
- 01/04/11 03:20 AM
Mortgage markets improved last week during a snow- and holiday-thinned series of sessions on Wall Street. Mortgage bonds improved on year-end profit-taking, mostly, leading conforming mortgage rates in Illinois lower. Last week marked the first calendar week in which mortgage rates dropped since early-November, a pleasing development for rate shoppers and home buyers. Falling rates means lower monthly mortgage payments. But don't expect for rates to improve again this week, however. Last week's gains were the result of extremely low trading volume and a close-out of 2010 mortgage bond positions. With markets re-opened for 2011, and Wall Street back at full volume, … (0 comments)
ben bernanke: What's Ahead For Mortgage Rates This Week : December 6, 2010
- 12/06/10 05:13 AM
Mortgage markets lost ground last week on growing optimism for the economy, a poor run for the dollar versus the euro, plus the lingering concerns that inflation will grip the U.S. long-term. Conforming mortgage rates in Illinois rose for the fourth week in a row, stymying rate shoppers and raising the effective cost of homeownership for new buyers in need of a mortgage. After a spectacular run that drew 30-year fixed rates to near 4.00, mortgage rates have returned to their highest levels since late-June. Last week was heavy on news. Bond traders were hit with the Beige Book; with the … (3 comments)
ben bernanke: Making A Mortgage Rate Strategy Ahead Of The Fed's Meeting This Week
- 06/22/10 05:09 AM
The Federal Open Market Committee begins a 2-day meeting today, its fourth scheduled meeting of the year, and fifth overall. The FOMC is the monetary policy-setting part of the government and its primary tool for that purpose is the Fed Funds Rate. The Fed Funds Rate is the dictated rate at which banks borrow money from each other and, since December 16, 2008, the Federal Reserve has voted to keep the benchmark rate within a target range of 0.000-0.250 percent. This is the lowest Fed Funds Rate in history. A rate near zero-point-zero percent renders borrowing by business and consumers cheap … (2 comments)
Do you know what causes mortgage to rise and fall each day? Everyday I post relevant articles and stats that directly influence the direction of mortgage rates. I also will feature relevant real estate news that can educate you about the market. Have a question or a topic you would like me to cover? Feel free to comment!
>Mortgage markets improved slightly through last week's holiday-shortened trading sessions. Better-than-expected housing data led mortgage rates higher Tuesday and Wednesday, but rates retreated Thursday morning in advance of Good Friday.
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