The Federal Reserve has announced its decision on whether to hike rates again
In the wake of its last meeting of the year, the Fed has announced its decision on whether to hike interest rates – but what does it mean for mortgage rates?
Hindsight may always be 20/20, but at a Federal Open Market Committee (FOMC) meeting in August of 2007, Federal Reserve Bank officials could have moved proactively to avoid the worst of the subprime mortgage meltdown of 2008.
Sales of luxury homes in the United States made a significant contribution toward the overall recovery of the housing market in 2012, and they are largely expected to play a similar role in 2013.
Purchasing a home or refinancing a mortgage? Now is a fantastic time to consider applying for a home loan. Mortgage rates are at market lows and affordability has never been more opportunistic. The question everybody asks when getting a mortgage is "what is your rate?"
Though a number of critical questions face the US economy, from the unfinished business in Washington like the debt limit and spending cuts to lackluster growth, the outlook for mortgage rates is relatively predictable and not very exciting.
As of mid-December, the average thirty-year fixed-rate mortgage was near its historic low of about 3.3 percent, or half its level in August 2007 when financial turmoil began.
Freddie Mac(OTCBB: FMCC) today released the results of its Primary Mortgage Market Survey(R) (PMMS®), showing fixed mortgage rates continuing to hover near their all-time record lows helping to keep homebuyer affordability high and aiding the ongoing housing recovery.