At 11:00 am PST today, the FOMC will wrap up their two-day meeting and we will learn if they have decided to make any adjustments to the Fed Funds rates. It is not anticipated that they will make any changes at this meeting. As I write this (7:35 am), mortgage backed securities are up about 22 basis point, which is following a weaker than expected ADP Employment Report. The DOW is at 38,493. [Read more…]
It’s FED Day! [Live post] Fed Funds Rate is UNCHANGED
January 31, 2024 by Leave a Comment
Mortgage Rate Update for the Week of January 29, 2024
January 29, 2024 by Leave a Comment
This week is packed with market moving events that may impact the direction of mortgage rates, including the FOMC meeting and the Jobs Report. Watch my latest video for more details and please contact me if you are considering buying or refinancing a home.
Fed Raises Funds Rate a Half Point
May 4, 2022 by Leave a Comment
Today wrapped up the two-day FOMC meeting and Chairman Powell announced that the funds rate will be increased by a half point. As of today, the federal funds rate is 0.75-1% and is expected to another 2 percent by the end of the year.
From the FOMC statement: [Read more…]
Fed Leaves Rates the Same BUT…
June 16, 2021 by Leave a Comment
The Fed’s announcement today to leave the funds rate unchanged was not a surprise to the markets. What did send the bond market in a tizzy this afternoon was that the Fed ever-so-slightly moved the goal posts out a bit for inflation. [Read more…]
Mortgage interest rates continue to trend higher
September 27, 2018 by Leave a Comment
This morning Freddie Mac released their weekly Prime Mortgage Market Survey (PMMS) showing that mortgage interest rates are continuing to trend higher. Click here for current mortgage interest rates in greater Seattle and beyond.
