The Federal Reserve Statement-Simplified

August 9, 2011

Tuesday, the Federal Open Market Committee voted to leave the Fed Funds Rate unchanged within its current target range of 0.000-0.250 percent. The vote was 7-3.

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Mortgage Rates Drop After U.S. Credit Downgrade

August 9, 2011

Mortgage rates continue drifting downward, despite — or because of — a ratings downgrade on long-term U.S. government debt.

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Volatility Remains the Name of the Game This Week

August 8, 2011

Will Rates Rise or Fall? Friday afternoon, after markets closed, S&P downgraded the long-term debt of the U.S. government a notch. Typically, lower credit ratings means higher borrowing costs which leads to higher mortgage rates, among other things. However, it’s unclear how markets will react to the S&P decision. Plus, the Federal Open Market Committee […]

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Mortgage Rates were Especially Volatile Last Week

August 8, 2011

Mortgage markets were especially volatile last week, falling to new 2011 lows before sharply rising higher.

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Friday’s Jobs Report Will Determine Which Way Rates Will Head

August 3, 2011

At 8:30 AM ET Friday, the Bureau of Labor Statistics will release the July 2011 Non-Farm Payrolls report. Mark it in your calendar. If you’ve been watching mortgage rates fall to new all-time lows this week and fear a mortgage rate reversal, Friday could be the day.

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How Will the Debt Ceiling Agreement Affect Rates?

August 2, 2011

Today’s debt ceiling agreement will be a major force in mortgage markets and home affordability. Are you prepared for it?

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Expect Volatility as Debt Ceiling Debate Continues This Week

August 1, 2011

The Direction of Mortgage Rates Depends on Two Events This Week The resolution of the U.S. debt ceiling debate, due Tuesday The July Non-Farm Payrolls report, due Friday Mortgage rates will be volatile as markets grapple with the expectations for the above events, and their eventual outcomes. Sunday evening, for example, congressional leaders reached an […]

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Debt Ceiling Debate Improved Mortgage Markets Last Week

August 1, 2011

Mortgage markets improved last week as the U.S. debt ceiling debate continued on Capitol Hill. Bonds traded in a range Monday through Thursday before breaking higher Friday morning.

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Good News for Economy is Bad News for Mortgage Rates

July 25, 2011

Mortgage markets worsened last week as the Greek sovereign debt situation came closer to final resolution, and as the U.S. housing market showed signs of life.

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Home Resales are Down for 3rd Straight Month

July 21, 2011

Home resales slipped for the 3rd straight month, according to data from the National Association of REALTORS®. Sales volume is at an eight-month low.

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