Tame inflation data, strong demand for the Treasury auctions, and a lack of surprises from the Fed were all positive for mortgage markets, and mortgage rates ended the week lower. As expected, the Fed held the fed funds rate steady on Wednesday, and its statement contained few changes. The Fed suggested that economic activity is …
Month: August 2009
We’ve been reading a lot lately about the $8000 tax credit for first time home buyers and how it’s affected the housing market – or not, depending on whose opinion you read – and the gist of most posts nowadays is how fast the deadline is approaching for people to take advantage of it. The …
With just minor exceptions, all of the economic data released this week beat the consensus forecast, indicating that the economy is improving more quickly than expected. While current inflation levels remain low, faster economic growth generally leads to higher future inflation, which is negative for mortgage rates. As a result, mortgage rates ended the week …