FOMC Minutes Category
Fed Minutes Edge Mortgage Rates Higher
October 14th, 2010 categories: Buyers, FOMC Minutes, General, Market Trends, Mortgage Guidelines, Mortgage Rates, Sellers
The Federal Reserve released its September 21, 2010 meeting minutes Tuesday afternoon. Mortgage rates in Tennessee are slightly higher today.
It’s unwelcome news for this season’s home buyers, and existing homeowners with plans to grab lower rates. Mortgage rates made new lows last week and may have reached a turn-around point.
The “Fed Minutes” is published 8 times annually, and is the official meeting recap for the Federal Open Market Committee. Similar to the meeting minutes released after a corporate conference or condo association gathering, the Fed Minutes details the conversation and debate between meeting attendees.
Minutes are the lengthy companion to the Fed’s brief, post-meeting press release.
| Discussion: No Comments »
Just What Is The Federal Reserve Doing?? Here Is A Simple Explanation After Their Meeting (April 28,2010 Edition)
April 27th, 2010 categories: FOMC, FOMC Minutes, Housing Starts, Market Trends, Mortgage Guidelines
Today, the Federal Open Market Committee voted 9-to-1 to leave the Fed Funds Rate unchanged within in its current target range of 0.000-0.250 percent.
In its press release, the FOMC noted that, since March, the U.S. economy “has continued to strengthen” and that the jobs markets “is beginning to improve”. This is a step up from the last meeting after which the Fed said jobs were “stabilizing”.
It also reiterated that business spending “has risen significantly”.
Today’s statement marks the 7th straight press release in which the Fed shows optimism for the U.S. economy. Furthermore, the Fed has now closed all but one of the programs it created to support markets during last year’s financial crisis.
Threats remain to growth, however. The Fed fingered a few:
| Discussion: No Comments »
A Simple Explanation Of The Federal Reserve Statement (March 16, 2010 Edition)
March 16th, 2010 categories: FOMC, FOMC Minutes, Market Trends, Mortgage Rates, Statistics
Today, the Federal Open Market Committee voted 9-to-1 to leave the Fed Funds Rate unchanged, in its target range of 0.000-0.250 percent.
In its press release, the FOMC noted that the U.S. economy “has continued to strengthen” and that the jobs markets “is stabilizing”. It also said that business spending has “has risen significantly”.
This is a slight departure from the Fed’s January statement in which housing was not mentioned and business spending was said to be “picking up”.
It’s also the sixth straight statement from the FOMC in which the Fed described the economy with optimism. This is a signal to markets that 2008-2009 recession is over and that economic growth is returning.
| Discussion: No Comments »
Knoxville Home Buyers Now Is The Time To Buy!!!
February 18th, 2010 categories: Buyers, FOMC Minutes, General, Home How To, Market Trends
Looks Like Those Low Interest Rates Are Heading North…..
Mortgage markets reeled Wednesday after the Federal Reserve released the minutes from its January 26-27, 2010 meeting. Mortgage rates in Tennessee are now at their highest levels since the start of the year.
The Fed Minutes is a follow-up document, delivered 3 weeks after an official FOMC meeting. It’s a companion piece to the post-meeting press release, detailing the debates and discussions that shaped our central bankers’ policy decisions.
The Minutes is a terrific look into the Fed’s collective mind and, yesterday, Wall Street didn’t like what it saw. Specifically, the report disclosed that:
- The Fed plans to break support for mortgage markets after March 31, 2010
- Raising the Fed Funds Rate will be a key part of the Fed’s strategy to tighten monetary policy
- The fundamentals behind consumer spending strengthened modestly
Furthermore, the Fed Minutes said that there is a growing risk of “higher medium-term inflation”. Inflation, of course, is awful for mortgage rates.
| Discussion: No Comments »
