Fed Holds Steady on Federal Funds Rate

In its post-meeting statement, the Federal Open Market Committee (FOMC) of the Federal Reserve announced its decision not to raise the current federal funds rate of 0.25 to 0.50 percent. Although FOMC members acknowledged further improvement in the U.S. economy and jobs markets.

What’s Ahead For Mortgage Rates This Week – April 4, 2016

Last week's economic calendar was full of new releases including pending home sales, Case-Shiller Home Price Indices and construction spending. Labor related reports including ADP payrolls, federal Non-farm payrolls, and the national unemployment rate were also released along with reports on consumer confidence and weekly reports on mortgage rates and new unemployment claims.

What’s Ahead For Mortgage Rates This Week – March 28, 2016

New home rose in February according to the Commerce Department. Based on a revised reading of 502,000 new home sales in January, February's reading was 2.00 percent higher than January's reading, but was 6.10 percent lower than for February 2015. Builders have held back on increasing construction due to concerns about ups and downs in the economic recovery. Short supplies of labor and available land have also kept home builders from meeting current demand.

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