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.
What’s Ahead For Mortgage Rates This Week – February 22, 2016
February 22, 2016 by
Last week’s economic news included the NAHB Housing Market Index, Commerce Department releases on housing starts and building permits and minutes of the most recent meeting of the Fed’s FOMC meeting.
What’s Ahead For Mortgage Rates This Week – February 16, 2016
February 16, 2016 by
Last week’s economic events included weekly releases on new jobless claims, mortgage rates and testimony by Fed Chair Janet Yellen concerning the Federal Reserve’s monetary policy.
What’s Ahead For Mortgage Rates This Week – Feburary 1, 2016
February 1, 2016 by
Last week’s economic events included S&P Case-Shiller’s home price indexes, reports on new and pending home sales and the Fed’s FOMC statement. The details:
FOMC Statement: Fed Holds Steady on Rates
January 29, 2016 by
According to statement issued at the conclusion of today’s Federal Open Market Committee meeting, committee members decided against raising the target federal funds rate. Mixed economic conditions, slower economic growth in the 4th quarter and low inflation contributed to the decision against raising rates. The target federal funds rate was raised in December to a range of 0.25 to 1.59 percent after remaining at 0.00 to 0.25 percent for several years. While rising fed rates were expected to cause a hike in mortgage rates, mortgage rates fell after December’s rate hike.
What’s Ahead For Mortgage Rates This Week – December 21, 2015
December 21, 2015 by
Last week’s scheduled economic reports included the NAHB Housing Market Index, Housing Starts, FOMC statement and Fed Chair Janet Yellen’s press conference. In addition to weekly reports on jobless claims and mortgage rates, inflation reports were also released.
What’s Ahead For Mortgage Rates This Week – October 19, 2015
October 19, 2015 by
Last week’s economic reports included Consumer Price Index and Core index for September, the minutes of the FOMC meeting held September 15 and 17, and weekly reports on mortgage rates and new jobless claims.
What’s Ahead For Mortgage Rates This Week – September 21, 2015
September 21, 2015 by
Last week’s economic releases included several reports related to housing. The Wells Fargo/NAHB Housing Market Index achieved its highest reading in nearly 10 years. Housing Starts dipped in August and Building Permits issued in August exceeded July expectations. The week’s big news was actually no news. The Fed’s Federal Open Market Committee decided not to raise interest rates. Fed Chair Janet Yellen followed up on the FOMC statement with a press conference and said that the Fed is not yet ready to raise rates, but that a majority of FOMC members are prepared to raise rates before year-end.
What’s Ahead For Mortgage Rates This Week – June 22, 2015
June 22, 2015 by
Last week’s economic news included National Association of Home Builders / Wells Fargo (NAHB) Housing Market Index and Commerce Department reports on Housing Starts and Building Permits, the post-meeting statement of the Fed’s Federal Open Market Committee (FOMC), and Fed Chair Janet Yellen’s scheduled press conference.
Federal Reserve: No Change on Target Fed Funds Rate
June 18, 2015 by
The Federal Open Market Committee (FOMC) of the Federal Reserve did not move to increase the Fed’s target federal funds rate, which is currently 0.00 to 0.250 percent. Although the committee acknowledged further progress toward…
