First Time Home Buyers
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Mortgage rates, on the other hand, will likely change today. Perhaps dramatically. Home mortgage rates don’t tend to vary based on what the Fed does, but rather what the Fed says.
Continue Reading →According to the Federal Reserve’s quarterly survey of senior bank loan officers, roughly 1 in 10 lenders added mortgage qualification hurdles between April and June. It’s a huge departure from just 2 years ago when the mortgage industry was facing its first wave of challenges.
Continue Reading →The Fed left rates unchanged after its first meeting in six weeks. Mortgage rates were unchanged Tuesday, but are trying to stage a rally today.
Continue Reading →The Federal Reserve adjourns from a scheduled, 2-day meeting today.This is one of the big 8 days scheduled every year.
Upon adjournment, Fed Chairman Ben Bernanke & Co. will release the brief press release that will hit the big question: the Fed Funds Rate (FFR) and we’re expecting no change.
The FFR is an inter-bank [...]
Continue Reading →Mortgage rates improved yesterday after the release of the Fed’s March 16, 2010 meeting minutes.
This is good news. Rates could have just as easily, actually more easily, jumped higher.
The minutes are a detailed recap of the internal debates at the last meeting. How thorough? Thorough enough that [...]
Continue Reading →Mortgage rates had a bad week. It was ugly every day and marked two weeks in a row where rates deteriorated.
It came from all sides. We had the normal volatility of a holiday week, there was strong economic news, and the Fed’s buyback/rate subsidy program came to an end.
We’re at the highest levels [...]
Continue Reading →Chicago home mortgage rates took a beating last week, rising to the highest levels in a month.
Wednesday was the worst day in over six months and Friday’s rally was just a dent in the week’s loss.
Mortgage Rate Predictions, This Week
Expect continued volatility.
Continue Reading →One of the big news items for the week was the minutes of the January Federal Reserve meeting.
Continue Reading →They were indeed influential, pushing rates to their highest levels of the year for most first time home buyer loans. The notable exception was the state programs as those are not typically driven by market fluctuation.
Continue Reading →The Federal Open Market Committee voted to leave the Fed Funds Rate within its target range of 0.000-0.250 percent.
In the press release, the FOMC issued their fifth-consecutive optimistic report.
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