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I am a Certified Mortgage Planner and Wealth Creation Specialist at Four Legacies Mortgage in Iowa. We are Iowa's FIRST socially responsible mortgage company. Read More

The Federal Open Market Committee voted to cut the Fed Funds Rate by at least three-quarters percent today.  The benchmark rate now rests in a range of 0.000-0.250 percent (yea, that hasn’t happened before).
In its press release, the FOMC identified three key economic sectors in which activity has weakened since October. The FOMC noted that:

The U.S. job market […]

It’s official. The Fed has officially cut the Fed Funds Rate to .25% (actually a ‘target range between 0% and .25%).  This is BIG news.
No, mortgage rates are not zero percent.  However, intially (this happened half an hour ago) mortgage rates look like they could be poised for a great deal!  I’m not in […]

The Federal Open Market Committee (that’s Bernanke’s crew) ends its 2-day meeting at 2:15 P.M. ET today.
It’s widely expected that the FOMC will reduce the Fed Funds Rate by a half-percent to 0.500 percent.
Fed Funds Rate cuts are meant to stimulate the economy by lowering borrowing costs for businesses and consumers. Interest rates on business […]

Let me save you some time and money.
The Fed does not control mortgage rates.  Not at all.  The Fed can do many things to influence the economy, but one of those things they control is NOT mortgage rates.  Influence, yes.  Control, no.
Let me explain.
What Does The Fed Control?
Now that I’ve established the Fed doesn’t control […]

The Decision
On Tuesday, the Fed decided for the third time in a row to keep things unchanged.  The Fed Funds Rate will remain at 2%.
Each time the Fed has a meeting, they release a statement to accompany the actual decision on rate.   It might surprise you, but the words are often more powerful than the […]

It’s official, it’s Fed Day. Today (Wednesday, June 25th), the Fed will be making their statement this afternoon at 2:00ET. It’s a big deal for the mortgage market, but not for the reasons you might think it matters.
What Does The Fed Funds Rate Effect?

Credit Card Rates
Auto Loans (in some instances)
Home Equity Lines of […]