My latest Zillow piece about rates this summer. Read it so you can be smart at BBQs and beaches near you this weekend.
Fed Funds Rate
There was a big Fed meeting yesterday, and here’s what it means for mortgage rates.
The Federal Reserve has this following mandates: keep unemployment low (under 6%), keep inflation low (under 2%), and keep interest rates moderate. If one looks only at these, then indeed the FOMC’s hike in Fed Funds was justified. The problem is that if one looks at all economic fundamentals especially GDP and Labor Participation Rate
Bernanke thinks higher rates are ok. And lots of other important notes from his press conference.
Stephen Colbert’s INSIDE Inside The Fed diagram, plus his take on the Fiscal Cliff.
MBS selloff picking up steam post FOMC, meaning rates are rising this afternoon.
Merrill’s outlook for Fed guidance and QE3: a signal rates could rise a bit near term.
Preview of Fed press conference. Plus today’s stats: mortgage applications, durable goods.
Rates drop back to record lows after Fed says it’ll hold overnight rates near-zero until late 2014.
Today’s stat summary: Mortgage applications, retail sales, factory orders, Fed’s new rate communications policy