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June 24th, 2008 (Modified on June 26th, 2008)

FOMC Meeting: No Surprises Expected

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The two-day Federal Open Market Committee (FOMC) meeting begins today, and will most likely end the way nearly every expert has predicted: no change in interest rates. The Fed’s constant concerns over inflation and a weak dollar have many investors expecting a rate increase sometime later this year. Market observers are concerned that if the Fed raises interest rates too soon it will weaken an already shaky economy, and banks will struggle even more to recover from losses suffered from the subprime mortgage and credit crises.

Inflationary concerns circle around the ever rising price of oil. According to AAA, gas prices have increased 37% in the past year. In the 12 months leading up to May, the weak dollar has led to the largest rise in import costs since 1988.

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About the HSH Blog

HSH.com's daily blog focuses on the latest developments in the mortgage and housing markets. Our mission is to relate how changes in mortgage rates and housing policy, as well as the latest financial news, impacts consumers, homebuyers and industry insiders alike. Our 30-plus years of experience in the mortgage industry gives us an edge as we break down the latest changes in an ever-changing market.

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Tim Manni

Tim Manni is the Managing Editor of HSH.com and the author of their daily blog, which concentrates on the latest developments in the mortgage and housing markets.

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