Feds Announce Bay Area Real Estate Mortgage Interest Rates to Stay Low Until 2014 in Alameda

By
Mortgage and Lending with Caliber Home Loans NMLS# 242952

For the past couple weeks mortgage rates have been inching up. That changed today, January 25th 2012 when we saw a huge rally in interest rates largely in part to the FOMC statement that rates are staying low until “late 2014”!!!

Let’s flashback to the December 13th meeting…

“The Committee also decided to keep the target range for the federal funds rate at 0 to 1/4 percent and currently anticipates that economic conditions--including low rates of resource utilization and a subdued outlook for inflation over the medium run--are likely to warrant exceptionally low levels for the federal funds rate at least through mid-2013."

Now this week, January 25th meeting…

“The Committee expects to maintain a highly accommodative stance for monetary policy. In particular, the Committee decided today to keep the target range for the federal funds rate at 0 to 1/4 percent and currently anticipates that economic conditions--including low rates of resource utilization and a subdued outlook for inflation over the medium run--are likely to warrant exceptionally low levels for the federal funds rate at least through late 2014."

According to RateAlert’s David Shirmeyer outside of a dramatic failure overseas we shouldn’t see rates go much lower than where they are. That being said we shouldn’t see rates getting much higher either thanks to the fed announcement.

Mortgage rates are once again at all-time lows! While mortgage interest rates certainly don’t seem like they will go higher overnight there is more risk than reward in waiting once rates get below 4%. Lenders get very busy when rates are this low and often times raise rates just to slow down the volume.

To request accurate information including a quick rate quote online visit "http://www.garrick.biz".

Related Articles:

Obama Signs Bill Extending FHA and VA Loan Limits

http://the-buzzz.com/2011/11/21/president-obama-signs-bill-extending-fha-va-loan-limits-hitting-gses-with-fee-in-alameda-ca/"

Home Affordable Refinance Program HARP 2 to Hit March 2012!

"http://the-buzzz.com/2011/11/01/harp-2-guidelines-for-refinances-appraisals-waived-alameda/"

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Rainer
272,552
David Barnes 303.929.8450
Reverse Mortgage Funding - Denver, CO
NMLS # David 501351

Garrick,

I agree with you that people need to stop with the idea that they need to be at the bottom before they are willing to move. If they take that approach mosre likely than not they will actually miss the bottom as rates usually bounch once they get there.

What do you think?

Thank you

David Barnes

Jan 27, 2012 09:10 AM #1
Rainmaker
722,887
Patrick White
Home Driven Realty, Inc - Baldwin, NY
Driven to bring New Yorkers home

Good Afternoon

Thanks for the post and the good news. Have a great day

Jan 27, 2012 09:18 AM #2
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