26 Feb 2013
By Mark Feder

Fed Considers Future of Quantitative Easing

Federal Reserve
The Federal Open Market Committee (FOMC) released minutes from its January meeting last Wednesday, as it generally does three weeks following the most recent meeting.   The FOMC is a committee within the Federal Reserve System tasked with overseeing the purchase and sale of US Treasury securities by the Fed. The Federal Reserve makes key decisions regarding interest rates and looks to this committee for advice on how and when to take action. The Future Of Quantitative Easing One of the main topices that Fed leaders discussed was the future of its ongoing program of quantitative easing (QE). Currently, the…
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04 Feb 2013
By Mark Feder

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

Mortgage Rates
Mortgage rates worsened last week amid evidence of an improving economy. Conforming mortgage rates climbed in Illinois and nationwide, rising to a 4-month high. Freddie Mac has the average 30-year fixed rate mortgage rate at 3.53% for borrowers willing to pay 0.7 discount points plus a full set of closing costs. There was plenty of news on which for rates to move last week. First, the Federal Open Market Committee (FOMC) met and voted to hold the Fed Funds Rate in its current target range near 0.00 percent. The Fed also recommitted to purchasing mortgage-backed securities (MBS) and Treasury securities…
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31 Jan 2013
By Mark Feder

Breaking Down The Federal Reserve Statement (January 2013 Edition)

Federal Reserve
The Federal Reserve's Federal Open Market Committee (FOMC) voted to maintain the Federal Funds Rate within its current range of zero to 0.25 percent, and to continue its current stimulus program of purchasing $85 billion monthly in Treasury bonds and mortgage-backed securities (MBS). Citing weather-related events such as Hurricane Sandy and drought in the Midwest, the committee said in its statement that information received since its December 2012 meeting "suggests that growth in economic activity has paused in recent months in large part because of weather-related disruptions and other transitory factors." Concerns over the then-looming fiscal cliff crisis may have…
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