The Adjustment Depends On The Index When you take out an adjustable rate mortgage (ARM), you agree to allow your lender to make periodic adjustments to the interest rate that you pay on the balance of your home loan. The mechanics of the adjustments come from the terms that you agreed to at the beginning […]
Tag Archive | "Fed Funds Rate"
The FOMC (Federal Open Market Committee) or sometimes referred to as the “Fed”, concluded its two day meeting today. In a press release, the FOMC announced it’s thoughts on the state of the economy today and moving forward in addition to its plans for future monetary policy. The equities and bond markets pay close attention to […]
The Federal Open Market Committee (FOMC) concluded its two day meeting today with a 9-1 vote to leave the Fed Funds Rate (the rate at which lending institutions lend to each other) unchanged within its current target range of 0.00%-0.25%. Some Key Points From the FOMC Press Release: “Economic growth strengthened somewhat in the third quarter, […]
Last week marked new yearly 2011 lows for mortgage rates as a debt ceiling agreement was reached early in the week. These low rates were sustained through out the week with a small uptick on Friday when the Non-Farm payrolls came in stronger than expected. Fast forward to today and the markets are being rocked […]
We start the week off in a positive direction for mortgage rates stemming from multiple positive economic events last week. The first event was good news regarding Greece’s debt issues as the country looks to pass an act that will lay out a plan for remaining solvent and keep other European nations and the IMF […]