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?
The unemployment rate continues to decline, but wage gains are lagging behind the pace of employment growth with the majority of jobs at the low end of the pay scale.
The latest FOMC meeting minutes show the bank is unlikely to raise rates until mid-2015, but the exact timing of the increase still depends on the health of the economy.
The White House has confirmed the Obama Administration is directing the FHA to reduce annual mortgage insurance premiums from 1.35% to 0.85%.
In a speech to be delivered tomorrow in suburban Phoenix, the President may announce a reduction of FHA mortgage premiums.
Historically, the mortgage industry experiences a slowdown during the holiday season, but this time around it was particularly quiet. Meanwhile, rates have hit a 19-month low.
Now is the time of year that mortgage professionals are flooded with predictions about what is going to happen in the housing market. Following the wrong advice could lead us to take poor risks or, conversely, not to take good ones.