Despite a weakening employment outlook for Americans, the economy flashed signs of a rebirth last week.  It wasn’t enough to reverse the recent mortgage rate trend, however. For the fourth week in a row, mortgage rates increased, if only slightly. The biggest story of last week was the revelation that 2.5 million jobs have been lost since Labor [...]

The Federal Open Market Committee voted to cut the Fed Funds Rate by at least three-quarters percent today. The benchmark rate now rests in a range of 0.000-0.250 percent. In its press release, the FOMC identified three key economic sectors in which activity has weakened since October. The FOMC noted that: The U.S. job market [...]

The Federal Open Market Committee adjourns from its 2-day meeting at 2:15 P.M. ET today. It’s widely expected that the Ben Bernanke-led FOMC will reduce the Fed Funds Rate by a half-percent to 0.500 percent. Fed Funds Rate cuts are meant to stimulate the economy by lowering borrowing costs for businesses and consumers; interest rates [...]

It’s the age-old question for home buyers in need of a mortgage: Which is better: Fixed or ARM? Historically, the answer has hinged on a homebuyer’s desire to meet one of two mutually-exclusive mortgage financing goals: Get low mortgage payments for better cash flow Get long-term payment stability for better budget planning But because of [...]