Monthly Archives: March 2010

Today, the Federal Open Market Committee voted 9-to-1 to leave the Fed Funds Rate unchanged, in its target range of 0.000-0.250 percent. In its press release, the FOMC noted that the U.S. economy “has continued to strengthen” and that the … Continue reading →

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 … Continue reading →

Mortgage markets worsened last week with little economic news to push markets in either direction. Momentum trading and rebalancing of portfolios drove mortgage rates higher, on average. FHA and conventional mortgage rates rose last week, marking the first time that’s … Continue reading →

The Federal Housing Finance Agency has extended the government’s Home Affordable Refinance Program by 12 months. HARP’s new end date is June 30, 2011. Originally known as Making Home Affordable, HARP aims to help homeowners refinance their mortgage who may … Continue reading →

According to foreclosure-tracking firm RealtyTrac, foreclosure filings topped 300,000 for the 12th straight month last month as 1 in every 418 U.S. homes received a foreclosure filing. It’s a small improvement from January and a just 6 percent increase over … Continue reading →

If your mortgage is set to adjust this year, the smart move may be to let it. Today’s conforming mortgages are adjusting lower than ever before — as low as 3 percent. It may not be what you expected when … Continue reading →

In November, Congress extended and expanded the First-Time Home Buyer Tax Credit program to include a subset of “move-up” buyers — homeowners that have owned and lived in their home for 5 of the last 8 years. The credit ranges … Continue reading →

Mortgage markets improved last week in low-volume trading. Between Monday to Thursday, Wall Street focused on the upcoming jobs reports and mortgage markets gained while traders jockeyed for position. Mortgage rates drifted lower through Thursday afternoon. But, then, after a … Continue reading →

Fewer homes went under contract in January as the housing market continues to limp through the winter months. According to the National Association of Realtors

Conforming and FHA mortgage rates have improved over the last 10 days, but that could all change this Friday with the release of February’s Non-Farm Payrolls report. Non-Farm Payrolls is the official name of the government’s monthly jobs report and, … Continue reading →