After their September 22nd meeting, the Federal Reserve left the Fed Funds Rate at 0-.25%, and the quantity of Bond and Mortgage Securities purchases intact at $120B per month... But they signaled that they feel comfortable scaling back on their bond purchases by the end of the year. The bond and ... » Learn More about The Fed Preps Us For Rate Increases
mortgage rates
Mortgage Rates Still Great… For Now
The Federal Reserve has been setting the stages for tapering their purchasing of mortgage backed securities using Quantitative Easing (QE). Their purchasing of gov’t notes and mortgages have kept interest rates at artificially lower levels to compensate for the economic effects of the pandemic ... » Learn More about Mortgage Rates Still Great… For Now
2 Positives For Refinances-Elimination of .5 pt Tax and Rates Drop
As I conveyed in a previous blog in June, the FHFA was being pushed by mortgage trade groups to eliminate an "Adverse Market Fee" on .5 point on conforming refinances. This was a hidden tax on the consumer that increased the cost of a refinance $2500 in additional costs to a $500,000 loan, or around ... » Learn More about 2 Positives For Refinances-Elimination of .5 pt Tax and Rates Drop
Federal Reserve Acknowledges Inflation and Rates to Go Up Sooner Than Originally Planned
The recent Federal Reserve statements convey that the high inflation being realized presently may more lasting, and not be as transitory as originally predicted. Now they’re expecting to raise rates sooner than previously perceived. There’s a lot of Fed banter now about starting with the scaling ... » Learn More about Federal Reserve Acknowledges Inflation and Rates to Go Up Sooner Than Originally Planned
Mortgage Rates Stable, But For How Long and Where Do They Go From Here?
The long-term interest rates have been fairly stable recently, and within a range since the beginning of April. Prior to that, the rates jumped substantially from January through March. The big quandary now is will the jump in the inflation rate only be transitory, as the Federal Reserve ... » Learn More about Mortgage Rates Stable, But For How Long and Where Do They Go From Here?