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Mortgage Rates -- And Home Affordability -- At The Whim Of The Federal Reserve

By
Mortgage and Lending with Chris Brown | Certified Mortgage Planners NMLS 303797

 

Fed Funds Rate and Mortgage Rates 1990-2011

The Federal Open Market Committee starts a two-day meeting today, the third of its 8 scheduled meetings this year.

The FOMC is a special, 12-person committee within the Federal Reserve. It's led by Fed Chairman Ben Bernanke and the group is responsible for voting on our nation's monetary policy. This includes setting the Fed Funds Rate, the rate at which banks borrow money from each other overnight.

The general public tends to...

 

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Mortgage Rates -- And Home Affordability -- At The Whim Of The Federal Reserve

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