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This week’s issue of HSH’s Market Trends Newsletter, “Mortgage Rates Creep Downward,” examines how economic indicators like home sales, Gross Domestic Product, and Durable Goods orders have influenced the movement of mortgage rates:
Overall fixed mortgage rates shed another four basis points (.04%) this week, with HSH’s Fixed Rate Mortgage Indicator (FRMI) nudging down to 6.95%. Over the past four weeks and since the passing of the housing bill, the FRMI has wandered aimlessly in a 10-basis-point range. Hybrid 5/1 ARMs, which have put in wide swings in rates at times this summer, have also settled into a mellow pattern, unchanged this week at 6.63%.
In case you missed it, HSH published an article last week after the recent FOMC meeting entitled “Fed Does Nothing, As Expected.” In detail, the article analyzes the reasons behind the Fed’s decision to leave interest rates unchanged:
As the economy remains fragile, the Federal Reserve Open Market Committee decided today to leave key short-term interest rates unchanged. The Fed last made a change to policy in late April, and has been holding steady since then. The Federal Funds Rate remains at 2%, while the “discount” rate — the cost of money for a bank borrowing directly from the Fed — held at 2.25% Read the rest of this entry »
From the 2008 Consumer Action Handbook:
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ELECTRICITY AND NATURAL GAS
As expected, The Federal Open Market Committee (FOMC) concluded their meeting today by leaving interest rates unchanged. The committee duly noted the inherent risk of inflation and the underproductive economy continues to have on current market conditions:
Inflation has been high, spurred by the earlier increases in the prices of energy and some other commodities, and some indicators of inflation expectations have been elevated. The Committee expects inflation to moderate later this year and next year, but the inflation outlook remains highly uncertain.
This week’s issue of HSH’s Market Trends Newsletter, “Fixed Mortgage Rates Dip,” examines how recent economic conditions have affected the movement of mortgage rates. This issue also discusses how the recent housing bill that was signed into law will mesh with the current state of the market.
August 1, 2008 — There’s nothing like some weak economic news to help mortgage rates to retreat from recent highs. Rates stormed higher in recent weeks on inflation concerns, ongoing credit market troubles, and some spotty signs of firming growth, but aside from credit market difficulties, the other two factors have changed course somewhat.
This week’s issue of HSH’s Market Trends Newsletter “Market Stresses Push Rates Higher,” examines the causes and effects of rising mortgage rates, inflation, weak homes sales, unemployment, and how they affect you.
July 25, 2008 — News of rising mortgage rates was everywhere you looked this week. With all the troubles in the marketplace and lenders still sporting many billion dollar losses, risks continue to rise, and rising risks mean higher rates.
In the last 24 hours, HSH Associates has been mentioned in at least eight major news sources including The New York Times, the Wall Street Journal, the BBC, and popular financial blog calculatedrisk.blogspot.com.
Be sure to read all the articles in which HSH Associate’s experts and information are quoted by clicking here.
It’s your money; other people are just trying to spend it. Listen to radio personality Clark Howard’s audio archives of “Rip-Off Alerts” on your computer.