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. In its press release, the FOMC said that, since April, “the economic recovery is proceeding”...

Mortgage markets improved last week on weaker-than-expected jobless figures, ongoing troubles in Europe, and a tame reading on domestic inflation. As a result, conforming mortgage rates for Washington fell last week, drawing loads of new refinance applications. For a brief moment Thursday afternoon,...

Rate shoppers caught another break last week as mortgage markets improved on weak jobs data. The May Non-Farm Payrolls report fell well short of expectations while ongoing jobless claims rose.  The two combined to cast doubt on the speed of the U.S. economic recovery, hurting stocks and helping bonds. Conforming...

After starting the day in the red, mortgage rates rebounded Wednesday afternoon after the Federal Reserve released its April 27-28, 2010 meeting minutes. It’s good news for home buyers and would-be refinancers.  Mortgage rates continue to troll along multi-year lows. “Fed Minutes”...

Mortgage markets improved last week — but barely — as ongoing doubt surrounding the health of Greece and the Euro pushed additional investors into safe assets, including mortgage bonds. Mortgage rates were wildly volatile between Monday and Friday before closing the week slightly better...

Shopping multiple lenders for a “good mortgage rate” can sometimes save you 1/8 percent on your rate and/or a few hundred dollars in fees. However, when it comes to getting the best mortgage rate, you’re going to more than good research skills. You’re going to need some luck. Mortgage...

Mortgage markets improved last week on tame inflation data, a benign statement from the Federal Reserve, and ongoing credit problems in Greece. The factors combined to drop conforming mortgage rates to their lowest levels in 6 weeks. It’s an unexpected development considering that mortgage rates...

The Fed Funds Rate is currently in a target range of 0.000-0.250 percent. The Fed Funds Rate is an inter-bank lending rate. It’s also the basis for Prime Rate, a consumer interest rate on which credit card payments are based, among other consumer loans.  Prime Rate is equal to the Fed Funds...

Mortgage markets worsened last week in see-saw trading. By the time Friday’s market closed, mortgage rates were higher across the board — ARMs, fixed rates, FHA and conventional. The biggest stories of last week were actually non-stories. First, the ash cloud from Iceland’s Eyjafjallajökull...

Mortgage markets improved yesterday after the Federal Reserve released its March 16, 2010 meeting minutes. It’s good news for home buyers and rate shoppers — rates could have just as easily gone the other way. The Fed Minutes is a detailed recap of the debate and discussion that shapes ...