Mortgage Rate Lock Strategy – Week of September 21, 2009

The Federal Open Market Committee starts a 2-day meeting today in Washington. The scheduled get-together ends at 2:15 PM ET Wednesday after which the FOMC will issue a press release to the markets. Consider locking your mortgage in advance of the press release. The FOMC meets 8 times annually and its...

The Housing Market Index Reaches A 16-Month High

According to home builders around the country, the housing market is looking good. Each month, the National Association of Home Builders releases its Housing Market Index report, a survey meant to “take the pulse of the single-family housing market”. Respondents report on three facets of their...

Bernanke The Recession Is “Very Likely” Over (Video)

On the 1-year anniversary of the Lehman Brothers collapse, Fed Chairman Ben Bernanke said Tuesday that the “recession is very likely over at this point”. His comments were supported by a Retail Sales report for August that was much better-than-expected. Equities improved on the day, mortgage...

What Did The Federal Reserve Statement Say (August 12, 2009 Edition)

The Federal Open Market Committee voted to leave the Fed Funds Rate within its target range of 0.000-0.250 percent. It also reiterated plans to support the mortgage market to the tune of $1.5 trillion. In its press release, the FOMC noted that the U.S. economy is ”leveling off” and that...

Mortgage Market Forecast Week of August 10, 2009 (chart)

To say that the mortgage markets took a beating last week would be an understatement. After better-than-expected consumer spending, housing and employment data, stock markets rallied and mortgage markets suffered. Mortgage rates unwound completely their gains of the last six weeks and now rest near the...