In the latest Fed meeting, Ben Bernanke and the Federal Reserve Board announced it will purchase up to $40 billion per month in additional mortgage-backed securities in an effort to further facilitate quantitative easing until the economy begins to improve. Financial markets on September 13, rallied on the news of the government’s intervention to improve…
“FHA ANNOUNCES PRICE CUTS TO ENCOURAGE STREAMLINE REFINANCING Millions of FHA borrowers could save average of $3,000 a year WASHINGTON – Today, Acting Federal Housing (FHA) Commissioner Carol Galante announced significant price cuts to FHA’s Streamline Refinance Program that could benefit millions of borrowers whose mortgages are currently insured by FHA. Beginning June 11, 2012,…
Mortgages rates across the board improved today on the news of the unemployment rate falling to 8.6% from 9%. The unemployment rate has not been this low for 2 1/2 years. Initially, the stock market improved on the news on .4 % change in the unemployment rate with a liquidation of bonds. During trading this…
The Federal Reserve’s minutes of the last meeting came out yesterday and it was revealed the Federal Reserve will continue to inject money into the economy to spur economic growth in the form of quantitative easing. The Fed meeting minutes also revealed they are positioning themselves to be in lockstep coordination with the financial markets.…
This is “THE” money question. If you can accurately predict this- you are the man, no doubt about it. News Flash! Nobody can predict this information, not even Yale Economists. What we can do is gauge the economy and the health of the real estate market by the economic data that we receive on a…
Friday October 7 marked the latest jobs report coming in showing the new unemployment rate for the US economy. Mortgage rates rose on Friday on the news of the unemployment rate holding steady at 9.1%. Mortgage rates usually improve upon the unemployment report because lately it’s been very dismal. The market action usually shifts to…
The Federal Open Market Committee announced on Wednesday of this week to leave the Federal Funds Rate unchanged within its target range of .25%. The Fed maintained an outlook for the US economy that since last month economic growth remains slow, unemployment rates remain elevated, and the housing sector remains depressed. Obviously, this is not…
Yes, it’s true the lowest Sonoma County mortgage rates are now on record as of August 19, 2011! 30 year fixed-rate conventional loans have fallen to an all-time record low! This could not be a better time to secure a refinance loan or a home purchase loan from an interest rate perspective. Rates are in…