The Federal Reserve ends a scheduled, 2-day meeting today. It’s the seventh of 8 scheduled Fed meetings in 2010, and the eighth overall this year. Mortgage rates should be especially jumpy.
Today, in its 7th meeting of the year, the Federal Open Market Committee voted 9-to-1 to leave the Fed Funds Rate unchanged.
If you’re actively shopping for a mortgage, it may be prudent to lock your rate ahead of the Fed’s announcement today.
Home affordability took a slight hit this week after the Federal Reserve’s release of its August 10 meeting minutes.
Today, in its first meeting in 6 weeks, the Federal Open Market Committee voted 9-to-1 to leave the Fed Funds Rate unchanged. The Fed Fund Rate remains at a historical low, within a prescribed target range of 0.000-0.250 percent.
We can’t be sure what the Fed will say or do this afternoon so if youâre floating a rate right now and wondering whether the time is right to lock, the safe choice is to lock before 2:15 PM ET today.
At 7,333 words, the June Fed Minutes is the unabridged version of the more well-known, post-meeting press release. The corresponding press release was just 360 words. It turns out, the Fed’s words are doing wonders for mortgage rates.
Today, in its first meeting in 5 weeks, the Federal Open Market Committee voted 9-to-1 to leave the Fed Funds Rate unchanged. The Fed Fund Rate remains within its target range of 0.000-0.250 percent.
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