Fed Signals No More Rate Cuts

Bonds were down today as the FOMC minutes were released showing inflation concern. The Fed, in its minutes indicated that the last rate cut was a "close call" and signaled that there would not be any more rate cuts coming anytime soon, unless we experience further economic deterioration. Rather, the concern is again on inflation.

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Mortgage Rates Continue Fall

Mortgage rates continue to fall slightly, but don't expected it to be the long-term trend.

FOMC Minutes

The recently released FOMC Minutes reflect a general consensus that inflation is the primary Fed concern.

Existing Home Sales Up

The National Association of Realtors report that existing home sales climbed in July, exceeding expectations.

Bernanke Speaks Today

A full agenda of challenges greets the Federal Reserve governors at there annual Jackson Hole, Wyoming symposium.

Bernanke:Inflation Uncertain

Bernanke assures market the Fed will "act as necessary."

Mortgage Rates Decline, but...

Mortgage rates continue to show slight declines, but look at it as a temporary trend or if you are a borrower a fleeting opportunity.

Mortgage Rates Stagnate

Mortgage rates continued to hold steady yesterday despite the expected report of steep declines in housing starts.

Housing Starts Today

Expect a brief early trading panic as housing starts are expected to be off on a 10% decline--returning to little or no change for the day.

National Rates

Loan Type Today
30 Year Fixed   6.06
15 Year Fixed   5.70
5/1 Adjustable   5.76

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