17 Mar 2016
By Mark Feder

Fed Policymakers Make Interesting Decision on Interest Rates

Financial Reports
According to a press release by the Federal Reserve, the Federal Open Market Committee (FOMC), the current target federal funds rate will hold steady at  0.25 to 0.50 percent. Committee members cited positive developments in the U.S economy including jobs growth, stronger labor markets and gradually increasing inflation. In addition, stronger housing sector and household spending were also noted as positive signs for the economy. Committee members cited risks associated with global economic and financial developments as a concern. FOMC members are guided in decision making by the Federal Reserve's dual mandate of maximum employment and price stability. Inflation remains…
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14 Mar 2016
By Mark Feder

What’s Ahead For Mortgage Rates This Week – March 14, 2016

Financial Reports
Last week's economic news included Fannie Mae's Home Purchase Sentiment Index along with weekly reports on mortgage rates and new jobless claims. The City of Detroit also announced a program to help would-be buyers purchase homes that do not qualify for mortgage loans due to severe damage. Fannie Mae: Home Buyer Sentiment Index Rises Fannie Mae's Home Buyer Sentiment Index (HBSI) gained 1.20 percent for an overall reading of 82.70 percent for February. The index reading is calculated using responses to several questions contained in Fannie Mae's National Housing Survey. HBSI components include consumer responses to questions about whether it's…
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07 Mar 2016
By Mark Feder

What’s Ahead For Mortgage Rates This Week – March 7, 2016

Financial Reports
Week in Review Last week's scheduled economic news included reports on pending home sales, construction spending and several jobs related readings including ADP Payrolls, the government's Non-Farm Payrolls and the national unemployment rate. Mortgage Rates, Weekly Unemployment Claims Rise Mortgage rates rose across the board according to Freddie Mac's weekly report. The average rate for a 30-year fixed rate mortgage rose two basis points to 3.64 percent; the average rate for a 15-year fixed rate mortgage rose by one basis point to 2.94 percent and the average rate for a 5/1 adjustable rate mortgage rose five basis points to 2.84…
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29 Feb 2016
By Mark Feder

What’s Ahead For Mortgage Rates This Week – February 29, 2016

Financial Reports
Last week's economic reports included Existing and New Home Sales and Consumer Confidence along with regularly scheduled weekly reports on mortgage rates and new jobless claims. Sales of Pre-Owned Homes Exceed Expectations January sales of previously owned homes rose to an annual level of 5.47 million sales against expectations of 5.30 million sales and December's reading of 5.45 million sales. Existing home sales rose by 0.40 percent month-to-month, which was the second-highest month-to-month reading since existing home sales were first tracked. Sales of existing homes had a strong showing with sales 11 percent higher year-over-year. Real estate markets continue to…
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