This week, there is little on the U.S. economic calendar, save for Friday’s Non-Farm Payrolls report. Wall Street is expecting to see 80,000 net new jobs created in November, and a rise in the national Unemployment Rate to 8.0%.
Mortgage markets carved out a wide range last week before eventually closing close to unchanged on the week.
The Federal Open Market Committee meets today,its second of 8 scheduled meetings this year. As a home buyer or would-be refinancing household, get ready for changing mortgage rates.
Mortgage markets worsened last week as the U.S. economy continued to show that it’s in recovery, and as Federal Reserve Chairman Ben Bernanke publicly hinted at the same.
If you’re shopping for a 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.
Conforming mortgage rates ended last week unchanged overall. It’s a strange outcome considering that Standard & Poor’s issued a downgrade on U.S. debt Monday.
The Federal Open Market Committee meets today in Washington D.C. The FOMC is a special group within the Federal Reserve, led by Fed Chairman Ben Bernanke, and consisting of 12 members.
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.
The Federal Reserve released its most recent meeting minutes Wednesday. Fed Minutes are the unabridged version of the succinct, more well-known “Fed Statement” that’s released immediately post-adjournment.
Mortgage markets improved last week during a snow- and holiday-thinned series of sessions on Wall Street. This week, it’s back to normal.
Special Offers
Tags
Ben Bernanke Building Permits Case-Shiller Index Census Bureau Eurozone Existing Home Sales Existing Home Supply Federal Reserve Fed Funds Rate Fed Minutes FHA FHFA FOMC Foreclosures Foreclosures,RealtyTrac Freddie Mac Greece HMI Home Affordability Home Price Index Home Supply Home Values Housing Market Index Housing Starts HPI IMI Improving Market Index Inflation Jobs Jobs Report Mortgage Rates NAHB NAR New Home Sales New Home Supply Non-Farm Payrolls Pending Home Sales Pending Home Sales Index PHSI PMMS QE3 RealtyTrac Spain The Today Show Unemployment Rate
