Federal Open Market Committee Archives

Fed holds rates steady amid mixed economic signals

As expected by virtually all market participants, the Federal Reserve maintained its short-term policy interest rate between 5.25% and 5.5% at its June meeting that concluded Wednesday afternoon. That’s the seventh consecutive time policymakers with the Federal Open Markets Committee (FOMC) kept the rates unchanged, reflecting mixed signals from the leading U.S. economic data. Job [...]read more

Rates at 7% attract different types of borrowers, forcing lenders to rethink profit strategies

May 2, 2024 mpsingh No Comments Real estate 30-Year Fixed Mortgage, Attract, Borrowers, Federal Open Market Committee, Federal Reserve, Forcing, lenders, profit, rates, rethink, Strategies, Types

Industry experts believe mortgage rates will remain higher for longer, attracting borrowers who face life events but not “economic gamers“ to the mortgage market. In turn, this will force some lenders to think out of the box to attain profitability. On Wednesday afternoon, the Federal Reserve announced its decision to maintain its short-term policy interest rate at a [...]read moreRates at 7% attract different types of borrowers, forcing lenders to rethink profit strategies