Show me the MORTGAGE money!: Fed cuts estimates for economic growth....

June 21, 2012

Fed cuts estimates for economic growth....

The recent FOMC meeting cut estimates for GDP and sighted slow increase in household spending which seems to indicate we are not out of the woods yet. The FED further indicated rates would be kept low through 2012 which is good news for home buyers.

Mortgage rates have been easing steadly downward (not sure how much lower they can go) with 30 year fixed rates averaging about 3.74% according to Freddie Mac as of June 14th.

Jun 21, 2012 6:00:56 PM

The comments to this entry are closed.

The Myth of the National Housing Market.....WSJ By Nick Timiraos The housing boom and bust gave rise to the myth of a “national” housing market. After all, prices rose in almost every part of the country until 2006, when they began dropping from coast to coast. But...

WSJ... Lenders Put Borrowers Through the Wringer... Lenders Want to Know Everything By AMY HOAK As a home buyer or refinancer, you'd expect to submit recent pay stubs and bank-account statements when applying for a mortgage loan. But a copy of your divorce decree? That's exactly what...