Eye On Housing
Due to the spreading economic damage caused by mitigation efforts to slow the spread of the coronavirus, the Federal Reserve provided an immediate round of monetary policy stimulus. The policy announcement included: A cut in the federal funds rate to a top rate of 0.25% The discount rate was effectively lowered from 1.25% to 0.25% as a means of ensuring… Read More ›
Information compiled by Freddie Mac shows that mortgage rates decreased on a month-over-month basis. As of end of February, the 30-year FRM – Commitment rate, declined by 16 basis points to 3.47 percent from 3.62 percent in January. The cycle peak was 4.87 percent in 2018 November. Given the recent market volatility, the Federal Reserve cut the benchmark interest rate… Read More ›
Reacting to the growing demand- and supply-side impacts of the coronavirus, the Federal Reserve FOMC today reduced the target range for the federal funds rate by 50 basis points, lowering the target to 1 1/4 and 1 percent. This is the first time since 2008 the FOMC enacted a federal funds rate cut outside of the typical meeting schedule. It… Read More ›
For the third consecutive month, information compiled by Freddie Mac shows that mortgage rates increased slightly on a year-over-year basis. As of end of December 2019, the 30-year FRM – Commitment rate, increased by two basis points to 3.72 percent from 3.70 percent in November. The cycle peak was 4.87 percent in 2018 November. The Federal Reserve maintained the benchmark… Read More ›
For the second consecutive month, information compiled by Freddie Mac shows that mortgage rates increased slightly on a year-over-year basis. As of end of November 2019, the 30-year FRM – Commitment rate, increased by one basis points to 3.70 percent from 3.69 percent in October. The cycle peak was 4.87 percent in November. The Federal Reserve maintained the benchmark interest… Read More ›
For the first time since November of last year, information compiled by Freddie Mac shows that mortgage rates increased slightly. As of end of October 2019, the 30-year FRM – Commitment rate, increased by eight basis points to 3.69 percent from 3.61 percent in September. The cycle peak was 4.87 percent in November. As expected, The Federal Reserve lowered its… Read More ›
The Federal Reserve reduced the target range for the key, short-term federal funds rate by 25 basis points to a top rate of 1.75% at the conclusion of its October Federal Open Market Committee (FOMC) meeting. This was the third cut in 2019, almost fully reversing a set of increases enacted in 2018. The FOMC views these enacted reductions as… Read More ›
For the ninth straight month, information compiled by Freddie Mac shows that mortgage rates continued to decline but at a slow pace. As of September 2019, the 30-year FRM – Commitment rate, fell by one basis points to 3.61 percent from 3.62 percent in August. The cycle peak was 4.87 percent in November. According to the September 2019 Federal Open… Read More ›
The Federal Reserve reduced the key, short-term federal funds rate by 25 basis points to a top rate of 2% at the conclusion of its September Federal Open Market Committee (FOMC) meeting. This was the second cut in 2019, partially reversing a set of increases enacted in 2018. The more dovish stance of the Fed is good for housing and… Read More ›
For the eighth straight month, information compiled by Freddie Mac shows that mortgage rates continued to decline. As of August 2019, the 30-year FRM – Commitment rate, fell by 15 basis points to 3.62 percent from 3.77 percent in July. The cycle peak was 4.87 percent in November. According to the July 2019 Federal Open Market Committee meeting statement, as… Read More ›