Investment Mortgage Guy

Today, the Federal Open Market Committee voted 9-to-1 to leave the Fed Funds Rate unchanged within in its target range of 0.000-0.250 percent.

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The Federal Open Market Committee holds a one-day meeting today, its 8th scheduled meeting of the year and 10th overall.

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Mortgage markets worsened last week as the U.S. economy showed additional signs of strength; and global demand for mortgage bonds slipped. Conforming mortgage rates rose for the fifth straight week.

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Fannie Mae rolls out new mortgage guidelines Monday. Therefore, if you’re in the process of applying for a conforming home loan, consider giving your complete application by the close of business Friday.

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Prior to 2009, the Home Opportunity Index rarely topped 65. The index has remained above 70 ever since.

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Looking for an extra 2010 tax deduction? Consider making your January mortgage payment a few days early.

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The Pending Home Sales Index surged 10 percent in October as low mortgage rates and low home prices spurred buyers into action. The market looks different today, however.

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After a spectacular run that drew 30-year fixed rates to near 4.00, mortgage rates have returned to their highest levels since late-June.

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Mortgage rates are moving quicker than the news can accurately report them. This week’s Freddie Mac mortgage rate survey is an excellent example.

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Mortgage rates are rising, up nearly 1 percent since mid-October. Tomorrow, rates could rise again.

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