Good Morning,
Elle had a wonderful 2nd Birthday party, thanks for asking!
On to the financial news: Yesterday Ben Bernanke testified on Monetary Policy to the Senate Finance Committee. He commented on what most in the financial world expected him to talk about, namely the struggling economy here and in Europe. What many were hoping he would talk about is additional action by the Federal Reserve to help stimulate the economy but there was no mention of this even being in discussion currently. What many were hoping to see was talk of another round of Quantitative Easing (or QE3) which would be another attempt to stimulate the economy by keeping rates low and therefore supply more money into the economy. Only time will tell as to when or what action the Federal Reserve is thinking of taking this time.
Have a great week!
Matt
Rates: 30 year fixed at 3.375% (APR 3.511) and the 15 year at 2.75% (APR 2.992), FHA: 3.25% (APR 4.14): As always rates change with individual credit scenarios and programs, APRs are estimated based off of a $250,000 purchase price with 20% down and a 740 credit score, if you want an exact quote, call. These are not quotes, merely a baseline measure to gauge how rates change from week to week.
Matt
Matt Royer
Mortgage Consultant, CMC | Homes Mortgage
NMLS# 366970
612-232-7646 c
651-770-0637 o
651-294-1001 f
www.MattRoyer.com
mroyer@homesmortgage.net
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