FOMC’s Statement Means Falling Florida Mortgage Rates
FOMC’s Statement Means Falling Florida Mortgage Rates
As Wall Street reacts to the Fed’s press release and projections, mortgage rates will move.
Given global economic conditions and the mortgage bond market’s status as a “safe market”, the failure of rates to fall last week suggests that this may be as low as mortgage rates get. It’s time to look at locking in.
Tuesday, the Federal Open Market Committee voted to leave the Fed Funds Rate unchanged within its current target range of 0.000-0.250 percent.
The Federal Open Market Committee begins a scheduled, 2-day meeting today, the seventh of its 8 scheduled meetings this year, and the eighth Fed meeting overall.
It’s no secret. Rates are low right now. And, it’s not just mortgage rates, either — all types of rates are scraping rock-bottom. Borrowing rates, lending rates and savings rates are at or near their all-time lowest levels.
Credit cards of all types do what they can to improve consumer loyalty. Offering free perks is just one way in which they try.
Tuesday, the Federal Open Market Committee voted to leave the Fed Funds Rate unchanged within its current target range of 0.000-0.250 percent. The vote was 7-3.
If you’re shopping for a Florida mortgage, or floating a rate, consider locking in before the FOMC issues its press release Wednesday at 12:15 PM ET. Once the statement hits, mortgage rates could soar.
Today, for the second straight meeting, the Federal Open Market Committee voted unanimously to leave the Fed Funds Rate unchanged within its target range of 0.000-0.250 percent. The vote was 10-0.