For those who didn’t hear of the news yesterday that the Federal Reserve plans on pumping $1.2 trillion in the U.S. economy, let me assure you that this is BIG news. It was no surprise that the Federal Open Market Committee kept the federal funds rate at .25%, and economists expect that rate to stay [...]

Forgive me for being a bit late to post on this topic, but given that the news was announced on New Year’s Eve and I, like most of the western world, was celebrating the coming of 2009 (or, more to the point, a good riddance to 2008), perhaps my tardiness is understandable.
The long and short [...]

At the risk of sounding like a broken record or, to put it into more modern parlance, a scratched CD (or a corrupt MP3 file?), I’m quite please to note that 30-year mortgage rates have again fallen, hitting another low last week of 5.1%. This comes after noting a decrease in mortgage rates 2 weeks [...]

Mortgage rates, and specifically the 30-year fixed mortgage rate, dropped to their lowest level in 37 years last week, no doubt aided by the Federal Reserve’s promise to push money into the mortgage market. The 30-year rate dropped to 5.19% according to Freddie Mac, which dropped from the previous week’s low of 5.47%.
In e-mail communication [...]

The Federal Open Market Committee lowered the federal funds rate - the rate at which banks make short term loans to one another - by .5% today, sending the Fed Funds rate to 1%, the lowest it’s been since 2004. The move was made amidst slow economic growth that has been exacerbated by a lack [...]