A Simple Explanation Of The Federal Reserve Statement (December 14, 2010 Edition)

Today, the Federal Open Market Committee voted 9-to-1 to leave the Fed Funds Rate unchanged within in its target range of 0.000-0.250 percent. In its press release, the FOMC noted that since November’s meeting, the “economic recovery is continuing”, but at a pace deemed too slow to make a...

Make A Mortgage Rate Strategy Ahead Of Today’s Fed Meeting

The Federal Open Market Committee holds a one-day meeting today, its 8th scheduled meeting of the year and 10th overall. The FOMC is part of the Federal Reserve, the government group that sets U.S. monetary policy. The Fed’s primary policy-setting tool is an interest rate known as the Fed Funds...

What’s Ahead For Mortgage Rates This Week : December 13, 2010

Mortgage markets worsened last week as the U.S. economy showed additional signs of strength; and global demand for mortgage bonds slipped. Conforming mortgage rates rose in Washington and around the country for the fifth straight week. It’s a streak that’s been marked by volatile pricing...

Fannie Mae Guidelines Change Monday. Apply Today To Lock In To “Old” Rules.

Fannie Mae rolls out new mortgage guidelines Monday. Therefore, if you’re in the process of applying for a conforming home loan, consider giving your complete application by the close of business Friday. All Fannie Mae applications taken on, or after, December 13, 2010, are subject to the changes. As...

Home Affordability Reaches Record-Levels… Last Quarter.

Last quarter, with home prices still relatively low and mortgage rates making new, all-time lows almost weekly, the cost of home ownership was extraordinarily low in Washington and most U.S. markets. According to the National Association of Home Builders’ quarterly Home Opportunity Index, 72.5...