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Need some help on deciding whether to lock or float your mortgage rate? Let me see if I can help. Each week, I participate in Bankrate.com’s Mortgage Rate survey and this week’s results may help you make a money-saving decision. The Predictions Here’s what the group is saying: 31% predict mortgage rates will increase 16% [...] The Federal Reserve adjourns from a scheduled, 2-day meeting today. It’s one of 8 scheduled Fed meetings for 2010. Upon adjournment, Fed Chairman Ben Bernanke & Co. will release a formal statement to the market. In it, the Fed is expected to announce “no change” in the Fed Funds Rate. Mortgage rates, however, WILL change. [...] Can’t decide whether to lock or float your mortgage rate? Let me help. Each week, I participate in Bankrate.com’s Mortgage Rate survey and this week’s results may help you make a money-saving decision. Conventional and Conforming Mortgage Rates Only The Bankrate.com survey is for conventional, conforming mortgages only. It does not apply to FHA [...] If you’re floating or shopping a loan right now, be wary of market volatility. Rates have been jumpy since April 1 and mortgage rates are changing quickly. This week, locking in before Wednesday may be your safest, near-term rate locking strategy. [...] Mortgage markets performed terribly last week as losses piled up day by day. It marked the second straight week of sell-offs. [...] The Federal Open Market Committee adjourns from a scheduled 1-day meeting today, its second of the year. The FOMC has held the Fed Funds Rate in a target range of 0.000-0.250 percent since December 16, 2008, and the voting members of the Fed are expected to vote “no change” again today. However, no change [...] Oh boy, and inflation begins…. WASHINGTON (MarketWatch) — The Federal Reserve announced late Thursday that it was raising its discount rate in order to push banks to borrow from the private market for short-term credit. In a statement, the Fed said it would raise its discount, or primary credit rate, to 0.75% from 0.50% effective [...] |
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