US Markets | Interest Rates

Mortgage and Lending with Benchmark Home Loans 173024

The last week of the month and end of the third quarter is underway with several hurdles for the U.S. markets to jump this week. The two-day FOMC meeting begins tomorrow with the monetary policy statement being delivered at 2:00 p.m. ET on Wednesday. The Treasury will sell a total of $106B in securities this week. The August Core PCE will be released on Friday, after the Fed meeting, and always carries headline risk. The Core PCE is the Fed's favorite inflation gauge. New Home Sales and several home price indexes will also be released this week.

The Federal Reserve is expected to raise the short-term interest, the Federal Funds Rate, this week. The Fed Funds Rate is the rate in which banks and credit unions lend reserve balances held at the Federal Reserve to other depository institutions overnight, on an uncollateralized basis. A move in the Fed Funds Rate will impact credit card rates, and student, auto, and personal loans. Rates on home equity lines of credit will also rise.

Posted by

Steve Reed

Benchmark Home Loans

Branch Manager

NMLS #173024

Ark-La-Tex Financial Services, LLC NMLS #2143 

4138 Bristol Highway, Suite #4

Johnson City, TN 37601

Phone 423-232-0111

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