Fed Makes No Change to Key Interest Rates

The FOMC finished this afternoon with the announcement from the Fed that there would be no change to key short term interest rates. This was the expected result that the market had been expected. Bonds are down but not significantly enough to cause an increase in today's mortgage rates. Durable Orders for May was reported this morning by the Commerce Department and met expectations. New Home Sales for May posted also today a decline at the expected level.

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Mortgage Rates Head Downward

Market proves Fannie, Freddie can continue to competitively finance debt. Sends Fannie, Freddie stock up and the US Dollar is ticking up.

Market Watches Freddie Debt Sale

All mortgage and investor market eyes are on Freddie Mac's debt sale today.

30 Year Mortgage Rate Lowest in 6 Weeks

The 30-year fixed mortgage rate continues to decline slightly everyday. Currently, it has reached its lowest level in 6 weeks and is lower than the same time last year.

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."

National Rates

Loan Type Today
30 Year Fixed   6.05
15 Year Fixed   5.73
5/1 Adjustable   5.78

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