Federal Reserve Slashes Fed Funds Rate to Historic Low
Confronted by a continued weakening economy, the Federal Open Market Committee (FOMC, Fed) cut its target Fed Funds rate to a target range of 0 to .25 percent, its lowest level ever.
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Mortgage Applications Continue Their Rally Due to Very Low Mortgage Rates
Americans continue refinancing their mortgages in massive numbers according to this morning’s Market Composite Index, released by the Mortgage Bankers Association (MBA).
How the Fed Rate Cut Affects Mortgage Rates
This week, the Federal Reserve (the Fed) lowered the Fed Funds Rate to 0.25% - its lowest in history (and even zero in some cases). This has been like a defibrillator to the sluggish economy, shocking some life into the markets and spurring economic activity.
U.S. Mortgage Market Rebounds
A very interesting article from Forbes.com yesterday outlined how the U.S. mortgage industry is showing signs of live and recovery as a result of some of the lowest mortgage rates on record.