T-minus five days until the Federal Open Market Committee (FOMC) begins its September meeting. It has been widely anticipated the Fed would “lift off”, hiking its benchmark fed funds interest rate at the September meeting for the first time in over nine years.
But the liftoff has been contentiously debated by powerful voices on both sides.
In a Bloomberg report, Cleveland Fed President Loretta Mester said that the economy “can sustain” an increase in interest rates,
St. Louis Fed … Continue reading
This week marks the final full week of 2014, and provided a final economic wrap on the state of housing and the interest rate environment.
The Federal Reserve Bank of the U.S. held its final meeting of the year Wednesday in Washington, D.C. and coined a new phrase of “can be patient in beginning” regarding raising short term interest rates next year.
The current time frame for higher rates from economists are expected to come in the middle of 2015 … Continue reading
“Those were the days, my friend, we thought they’d never end….”
As expected, The Federal Reserve (Fed) stopped the printing press putting an end to its historic 6 year quantitative easing, bond buying program Wednesday while keeping its basic guidance of a near zero Federal Funds Rate for a “considerable time.” The Fed said it was confident the US economic recovery would continue despite a global slowdown.
Despite historically low rates, an estimated 60% or more homeowners are still sitting on mortgages with interest rates of greater than 5% and approximately 30% are over 6%, and have not yet taken advantage of the opportunity of a refinance to lower the interest rate and improve their cash flow.
There are plenty of myths out there that say you should only refinance IF x, y, and/or z. If you can lower your rate by x percent. … Continue reading
Discover why buying a home during the holiday season could prove to be to your advantage. Get the top 5 reasons for 2012. Continue reading
North Dallas has enjoyed some terrific mortgage interest rates lately as mortgage backed securities have been trading in a very positive range. In fact, mortgage interest rates are at the lowest levels this year! However, they are capped off by a strong ceiling of resistance which is a huge roadblock to further improvement.
Heading into the Memorial Day holiday weekend, as with … Continue reading