Archive for 'Fed' Category
Fed Warns of Economic Downturn
8 April 2008The FOMC minutes were released this afternoon. Prices may increase in afternoon revisions to .375 lower on price. The Fed voiced that they were relatively convinced the economy will have contracted in the 1st Quarter of this year and were concerned about a sustained downturn in the economy. The noted that the housing sector shows [...]
Fed Cuts Benchmark Rate Only .75%, Mortgage Rates Up
18 March 2008The Federal Reserve disappointed the street today with a weaker than expected .75% cut to the rates. As a result, bonds are selling off this afternoon, and mortgage lenders may experience a repricing for the worse this afternoon. If you are floating, it may be a good time to lock your rate, if the reprice [...]