When you’re thinking about buying a home, you may hear a lot about mortgage rates going up or down. But have you ever wondered what causes these changes? One of the biggest influences on mortgage rates is the Federal Reserve, often called “the Fed.” While the Fed doesn’t set mortgage rates directly, its policies play a major role in how much you’ll pay for your home loan. Let’s break it down in simple terms:
What’s Ahead For Mortgage Rates This Week – May 3, 2021
Last week’s economic reporting included readings from Case-Shiller Home Price Indices, data on pending home sales, and a statement from the Fed’s Federal Open Market Committee. The University of Michigan released its Consumer Sentiment Index and weekly reports on mortgage rates and jobless claims were also published.
What’s Ahead For Mortgage Rates This Week -March 23rd , 2020
Last week’s economic reports included readings from the National Association of Home Builders on housing market conditions, Commerce Department readings on housing starts and building permits issued and National Association of Realtors(R) reporting on sales of previously-owned homes.
Could Fed Interest Rate Hike Help Home Buyers?
News of the Federal Reserve hiking interest rates appears to have caused unnecessary panic among people poised to purchase a first home or a larger one for a growing family.
Fed Raises Key Interest Rate For 3rd Consecutive Time
The Federal Open Market Committee of the Federal Reserve announced that it raised the target federal funds rate to a range of 2.00 percent to 2.25 percent. This was the third consecutive increase in the Fed’s key interest rate and was the eighth time the Fed raised its key interest rate since 2015.
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