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Dec 03

A Look At This Week’s Mortgage Rates : December 3, 2012

Low mortgage rates are pumping up home affordability. Average 30-year fixed-rate mortgage rates made a new all-time low in November, continuing this year Refinance Boom and giving fuel to the budding housing market recovery. At month-end, Freddie Mac's survey of 125 banks nationwide put the benchmark product's rate at 3.32% for borrowers willing to pay 0.8 discount points. This is just 0.01 percentage point above the record-low rate establishing prior to Thanksgiving. The 15-year fixed … [Read more...]

Dec 13

A Simple Explanation Of The Federal Reserve Statement (December 13, 2011 Edition)

Tuesday, the Federal Open Market Committee voted to leave the Fed Funds Rate unchanged within its current target range of 0.000-0.250 percent. The vote was nearly unanimous for the second straight month. Just one FOMC member dissented in the vote, favoring additional policy stimulus beyond what the Federal Reserve currently provides. In its press release, the Federal Reserve sais that the the U.S. economy is improving, noting that since its November 2011 meeting, the economy has been … [Read more...]

Aug 31

Fed Minutes : Fed Considered Additional Stimulus In August

The Fed publishes meeting minutes 8 times annually -- three weeks after each scheduled Federal Open Market Committee get-together. The Fed Minutes summarizes the FOMC meeting. The Federal Reserve released the minutes from its August 9, 2011 Federal Open Market Committee meeting Tuesday. The Fed Minutes contained no surprises and, as a result, mortgage rates across District of Columbia and nationwide have idled. Although it gets less press attention, the Fed Minutes is every bit as … [Read more...]