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.
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The Fed’s June Minutes Keep Mortgage Rates In Rally-Mode
July 16th, 2010 categories: FOMC
According to Freddie Mac, mortgage rates made new all-time lows this week and the good news is that rates look poised to fall even more.
Since the Federal Reserve’s release of its June 2010 meeting minutes Wednesday, mortgage rates are dipping even more and one of the main reasons why is because of some choice Fed words.
If you’ve never seen a Fed Minutes release, it reads academic. The document is page after page of stats, facts and figures about the U.S. economy, accompanied by an in-depth recap of the intra-Fed member debates that shape the nation’s monetary policy.
At 7,333 words, the June Fed Minutes is the unabridged version of the more well-known, post-meeting press release. The corresponding press release was just 360 words.
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