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Dec 03

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

December 3, 2012 By Leave a Comment
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...]

Filed Under: Buying Real Estate in Washington, DC Tagged With: , , , , , , , ,
Oct 24

Simple Explanation Of The Federal Reserve Statement (October 24 , 2012)

October 24, 2012 By Leave a Comment
FOMC-Announcement

The Federal Open Market Committee voted to leave the Fed Funds Rate unchanged within its current target range of 0.000-0.250 percent Wednesday. For the ninth consecutive meeting, the vote was nearly unanimous. And, also for the ninth consecutive meeting, Richmond Federal Reserve President Jeffrey Lacker was the lone dissenter in the 9-1 vote. The Fed Funds Rate has been near zero percent since December 2008. In its press release, the Federal Reserve noted that, since its last meeting … [Read more...]

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Oct 05

Fed Minutes Detail QE3 Discussion; Mortgage Rates Down

October 5, 2012 By Leave a Comment
FOMC-Minutes-201209

The minutes from the Federal Reserve's September Federal Open Market Committee meeting were released Thursday. The Fed Minutes detail the discussions and debates which shaped the central banker's launch of its third round of qualitative easing since 2008. The minutes also give Wall Street insight into future monetary policy. At 6,987 words, the Fed Minutes provides a level of detail that was unavailable via the FOMC's post-meeting press release, a documen that, by contrast, ran 562 … [Read more...]

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Sep 13

FOMC Expected To Announce New Stimulus Today

September 13, 2012 By Leave a Comment
FOMC To Announce More Stimulus

The Federal Open Market Committee ends a 2-day meeting today, the group's sixth of 8 scheduled meetings this year. As a DC home buyer or would-be refinancer, be ready for mortgage rates to change. The Federal Open Market Committee is a 12-person sub-committee of the Federal Reserve. Led by Fed Chairman Ben Bernanke, it's the group within the Fed tasked with voting on U.S. monetary policy. The act for which the FOMC is most well-known is its management of the Fed Funds Rate. The Fed Funds … [Read more...]

Filed Under: Buying Real Estate in Washington, DC, Selling Real Estate in Washington, DC Tagged With: , , , , , , , , , ,
Sep 04

What’s Ahead For Mortgage Rates This Week : September 4, 2012

September 4, 2012 By 1 Comment
jobs-in-focus-2

Mortgage markets improved last week for the second consecutive week. With no news coming from Europe, Wall Street was focused U.S. economic data and Federal Reserve Chairman Ben Bernanke's planned public speech from the Fed's annual retreat in Jackson Hole, Wyoming. Rate shoppers and home buyers in DC caught a break. The housing market was shown to be improving last week, as was the average household income nationwide -- two events which would have typically moved District of Columbia … [Read more...]

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Aug 17

Mortgage Rates Rise For Third Straight Week

August 17, 2012 By Leave a Comment
Mortgage Rates Rise for Third Straight Week

  Mortgage rates in DC keep on rising. According to Freddie Mac's weekly Primary Mortgage Market Survey, for the third straight week, the 30-year fixed rate mortgage rate rose, this time tacking on 3 basis points on a week-over-week basis to 3.62%, on average, nationwide. The 3.62% mortgage rate is available to mortgage applicants willing to pay 0.6 discount points plus a full set of closing costs. Freddie Mac's published mortgage rates are compiled from a 125-bank … [Read more...]

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Apr 24

The Fed Starts A 2-Day Meeting Today. Make A Strategy.

April 24, 2012 By Leave a Comment
30 Year Fixed Rate Mortgage

The Federal Open Market Committee begins a 2-day meeting today in the nation's capitol. It's the group's third of 8 scheduled meetings this year. Mortgage rates are expected to change upon the Fed's adjournment. Led by Chairman Ben Bernanke, the FOMC is a 12-person, Federal Reserve sub-committee. The FOMC is the group within the Fed which votes on U.S. monetary policy. "Making monetary policy" can mean a lot of things, and the action for which the FOMC is most well-known is its setting of … [Read more...]

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Jan 25

A Simple Explanation Of The Federal Reserve Statement (January 25, 2012)

January 25, 2012 By 3 Comments

Wednesday, the Federal Reserve's Federal Open Market Committee voted to leave the Fed Funds Rate unchanged within its current target range of 0.000-0.250 percent. The Fed Funds Rate has been near zero percent since December 2008. For the third consecutive month, the Fed Funds Rate vote was nearly unanimous. Just one FOMC member dissented in the 9-1 vote, objecting only to the language used in the Fed's official statement. In its press release, the Federal Reserve noted that the the U.S. … [Read more...]

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Jan 25

The Federal Reserve Meets Today : Mortgage Rates Expected To Move

January 25, 2012 By 5 Comments
Federal Reserve - 30 Year Fixed

The Federal Open Market Committee adjourns from a scheduled 2-day meeting today, its first of 8 scheduled meetings this year. The FOMC is a designated, rotating, 12-person committee within the Federal Reserve, led by Federal Reserve Chairman Ben Bernanke. Members of the FOMC sub-committee are the voting members of the Federal Reserve; the ones that ultimately determine U.S. monetary policy. The most well-known Federal Reserve monetary policy tool is the central bank's Fed Funds Rate. The … [Read more...]

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Jan 12

Fed Minutes Show An Improving U.S. Economy Threatened By The Eurozone

January 12, 2012 By Leave a Comment

The Federal Reserve has released the minutes from its most recent Federal Open Market Committee meeting. The Fed Minutes are a detailed meeting recap; the companion piece to the more brief, more well-known press release. As a comparison, the minutes of the last FOMC meeting contained 60 paragraphs and 7,027 words. The post-meeting press release was just 5 paragraphs and 382 words. December's Fed Minutes shows Fed members with a positive, cautious, take on the economy. Recent data … [Read more...]

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