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Mortgage Rates Tick Up Slightly Off Lows

Freddie Mac’s Weekly Survey was released this morning with its most recent assessment of the mortgage rate landscape. See the details of their survey below.

(dynamic chart with current info)

Today’s Mortgage Rates & Lenders Today’s Bond Rates

30 Year Fixed Mortgage Rates Drop To Levels Last Seen in 2016

Freddie Mac’s Weekly Survey was released this morning with its most recent assessment of the mortgage rate landscape. See the details of their survey below.

(dynamic chart with current info)

Today’s Mortgage Rates & Lenders Today’s Bond Rates

Fed Keeps Interest Rates Steady, For Now

The Federal Reserve left the Fed Funds Rate unchanged at the conclusion of their FOMC meeting today. The rate is currently a target range of 2.25% to 2.50%.

Banks maintained the Prime Rate at 5.50%.

There is significant speculation and widespread expectations of a rate cut next month.

 


Federal Reserve issues FOMC statement
June 19, 2019

Information received since the Federal Open Market Committee met in May indicates that the labor market remains strong and that economic activity is rising at a moderate rate. Job gains have been solid, on average, in recent months, and the unemployment rate has remained low. Although growth of household spending appears to have picked up from earlier in the year, indicators of business fixed investment have been soft. On a 12-month basis, overall inflation and inflation for items other than food and energy are running below 2 percent. Market-based measures of inflation compensation have declined; survey-based measures of longer-term inflation expectations are little changed.

Consistent with its statutory mandate, the Committee seeks to foster maximum employment and price stability. In support of these goals, the Committee decided to maintain the target range for the federal funds rate at 2-1/4 to 2-1/2 percent. The Committee continues to view sustained expansion of economic activity, strong labor market conditions, and inflation near the Committee’s symmetric 2 percent objective as the most likely outcomes, but uncertainties about this outlook have increased. In light of these uncertainties and muted inflation pressures, the Committee will closely monitor the implications of incoming information for the economic outlook and will act as appropriate to sustain the expansion, with a strong labor market and inflation near its symmetric 2 percent objective.

In determining the timing and size of future adjustments to the […]