The media reports on the tea-leaf reading going on in Washington DC, and Wall Street messages sent out Tuesday by the Federal Reserve. The Fed affirmed its plan to stop buying mortgage-backed securities, a practice that has helped hold interest rates to their lowest levels in a generation at under 5%. Those purchases, totaling $1.25trn, are expected to wrap up by the end of March. But the Fed left open the possibility that it may begin buying the securities again if the housing “recovery” stalls. The Fed also voted to keep its benchmark interest rate – the one that tends to set a bar for mortgage rates – at nearly 0%. It cited continued worries of economic weakness.
Federal Reserve moves signal mortgage rates could ease up to 5.5%
Most Popular Articles
Latest Articles
11 real estate events & conferences to help you thrive in 2024
Forge new connections at these in-person events and conferences that can help take your career to the next level.
-
In quest to grow reverse business, US Mortgage Corporation hires Krajewski
-
NAR wants VA to change rules that prohibit veteran buyers from paying broker commissions
-
Renters gain financial edge over homebuyers in key U.S. markets: Realtor.com
-
Reverse-centric Ibis Software appoints Sivori to board of directors
-
Clear Capital extends its partnership with Cherre