FOMC Mintues: No Rate Hike for Now

Mortgage and Lending with Amerifirst Financial, Inc Equal Housing Oppurtinity Lender AZ BK0013635 NMLS 145368 LO:1015837

Once again the Fed decided on a 9-1 vote to leave the key interest rate unchanged.  The downplayed global weakness, which was one of the main reasons for not hiking rates in December.  They cited a slowdown in the labor market and that measures of inflation are still below the target rate they have previously set for a hike while the economic growth is seen as moderate.  The statement did leave the door open for a rate hike in December which caused mortgage backed securities to immediately nosedive.  

Once again they offer very little clarity on their direction so you can expect markets to fluctuate in the short term.

Comments (2)

Ronald DiLalla
Century 21 Discovery DRE 01813824 - Anaheim, CA
No. Orange Cty Real Estate

Mike,   sorta status quo..Thanks for sharing with us in Ar Land.

Oct 28, 2015 04:19 AM
Joe Pryor
The Virtual Real Estate Team - Oklahoma City, OK
REALTOR® - Oklahoma Investment Properties

Kind of what we thought would happen but you never know until it happens. They keep putting this back every meeting and I think we look at the Fed as the little boy who cried wolf one to many times.

Oct 28, 2015 04:28 AM