Mortgage Rates Falling After FOMC Meeting yesterday.
The Federal Reserve did not raise the Fed Funds Rate at its June 2016 meeting.
After adjourning from a 2-day meeting, the nation's central banker voted to hold the Fed Funds Rate in a target range near 1/4 percent.
The vote was unanimous at 10-0.
In its post-meeting press statement, the Federal Reserve said that the U.S economy "appears to have picked up" since the group last met in April despite new drag from the labor market.
The group also noted that inflation rates have "continued to run" below the Fed's target range of two percent over the long-term.
At the start of the year, the FOMC was expected to raise the Fed Funds Rate four times in 2016. Now, it's doubtful that the group will vote to raise the benchmark rate even once.
The Fed's change of plans has surprised Wall Street this year, and mortgage markets have responded favorably.
Mortgage rates are lower since the FOMC adjourned.
Mortgage rates remain cheap and the Federal Reserve appears intent on helping them stay that way. Markets often change without notice, however. Lock a loan while rates are still low.
BBB A+
Apply on line:http://www.visionquestlending.com/free-quote/
Sincerely,
Tony Nguyen | NMLS#93776
Vision Quest Lending | 2860 Michelle Drive, Suite 140, Irvine, CA 92606
Direct 714-464-8042 | 877-318-0992 x6502 | Fax 866-394-9352
Email | tony@vqlending.com
Website | www.visionquestlending.com
The Federal Reserve did not raise the Fed Funds Rate at its June 2016 meeting.
After adjourning from a 2-day meeting, the nation's central banker voted to hold the Fed Funds Rate in a target range near 1/4 percent.
The vote was unanimous at 10-0.
In its post-meeting press statement, the Federal Reserve said that the U.S economy "appears to have picked up" since the group last met in April despite new drag from the labor market.
The group also noted that inflation rates have "continued to run" below the Fed's target range of two percent over the long-term.
At the start of the year, the FOMC was expected to raise the Fed Funds Rate four times in 2016. Now, it's doubtful that the group will vote to raise the benchmark rate even once.
The Fed's change of plans has surprised Wall Street this year, and mortgage markets have responded favorably.
Mortgage rates are lower since the FOMC adjourned.
Mortgage rates remain cheap and the Federal Reserve appears intent on helping them stay that way. Markets often change without notice, however. Lock a loan while rates are still low.
BBB A+
Apply on line:http://www.visionquestlending.com/free-quote/
Sincerely,
Tony Nguyen | NMLS#93776
Vision Quest Lending | 2860 Michelle Drive, Suite 140, Irvine, CA 92606
Direct 714-464-8042 | 877-318-0992 x6502 | Fax 866-394-9352
Email | tony@vqlending.com
Website | www.visionquestlending.com