Kim Abbott

Riding Real Estate Agent

  • About Me
  • Resources
    • Buyer Info
    • Seller Info
    • Home Appraisal
    • Home Inspection
  • Find a Home
  • Testimonials
  • Contact

What’s Ahead For Mortgage Rates This Week : February 4, 2012

February 4, 2013 by Kim Abbott

Mortgage rates worsened last week amid evidence of an improving economy. Conforming mortgage rates climbed in Arizona and nationwide, rising to a 4-month high. Freddie Mac has the average 30-year fixed rate mortgage rate at 3.53% for borrowers willing to pay 0.7 discount points plus a full set of closing costs. There was plenty of news on which for rates to move last week. First, the Federal Open Market Committee (FOMC) met and voted to hold the Fed Funds Rate in its current target range near 0.00 percent. The Fed also recommitted to purchasing mortgage-backed securities (MBS) and Treasury … [Read more...]

Filed Under: Mortgage Rates Tagged With: Fed Funds Rate, FOMC, Jobless Claims

Breaking Down The Federal Reserve Statement (January 2013 Edition)

January 31, 2013 by Kim Abbott

The Federal Reserve's Federal Open Market Committee (FOMC) voted to maintain the Federal Funds Rate within its current range of zero to 0.25 percent, and to continue its current stimulus program of purchasing $85 billion monthly in Treasury bonds and mortgage-backed securities (MBS). Citing weather-related events such as Hurricane Sandy and drought in the Midwest, the committee said in its statement that information received since its December 2012 meeting "suggests that growth in economic activity has paused in recent months in large part because of weather-related disruptions and other … [Read more...]

Filed Under: Federal Reserve Tagged With: Fed Funds Rate, FOMC, Inflation

What’s Ahead For Mortgage Rates This Week : December 17, 2012

December 17, 2012 by Kim Abbott

Mortgage bonds worsened last week, moving mortgage rates higher. Economic news was mostly positive and the Federal Open Market Committee (FOMC) changed some of Wall Street expectations for future monetary policy. Freddie Mac reported the average 30-year fixed rate mortgage rate at 3.32 percent nationwide for borrowers willing to pay an accompanying 0.7 discount points plus closing costs. The average 15-year fixed rate mortgage rate was listed at 2.66 percent nationwide with an accompanying 0.6 discount points plus closing costs. Both mortgage rates had climbed by week's end, however. Mortgage … [Read more...]

Filed Under: Mortgage Rates Tagged With: Fed Funds Rate, FOMC, IMI

Simple Explanation Of The Federal Reserve Statement (December 12 , 2012)

December 12, 2012 by Kim Abbott

The Federal Open Market Committee voted to leave the Fed Funds Rate unchanged within its current target range of 0.000-0.250 percent Wednesday. For the tenth consecutive meeting, the FOMC vote was nearly unanimous. Richmond Federal Reserve President Jeffrey Lacker was the lone dissenter in the 9-1 vote. The Fed Funds Rate has been near zero percent since December 2008. In its press release, the Federal Reserve noted that, since its last meeting in late-October, the U.S. economy has expanded "at a moderate pace" despite "weather-related disruptions". It also acknowledged that "strains in global … [Read more...]

Filed Under: Federal Reserve Tagged With: Fed Funds Rate, FOMC, QE3

The Federal Reserve Begins A 2-Day Meeting Today

December 11, 2012 by Kim Abbott

The Federal Open Market Committee (FOMC) begins a 2-day meeting today, its last of 8 scheduled meetings this year. The Federal Open Market Committee is a 12-person subcommittee within the Federal Reserve. It's the group which votes upon U.S. monetary policy.  The monetary policy action for which the FOMC is most well-known is its setting of the Fed Funds Funds. The Fed Funds Rate is the interest rate at which banks borrow money from each other overnight. Since late-2008, the Fed Funds Rate has been near zero percent. Prime Rate, a business and consumer interest rate used in … [Read more...]

Filed Under: Federal Reserve Tagged With: Fed Funds Rate, FOMC, Mortgage Rates

Next Page »
Kim Abbott

Contact Kim

CALL (602) 540-3719
Located in Phoenix, AZ

HomeSmart

Connect with Me

Let’s Keep In Touch!

  • This field is for validation purposes and should be left unchanged.

Browse Articles by Category

Recent Articles

  • VA Loans: Are They Assumable?
  • The Cost Of Building A House
  • Curious About Homeowners’ Association (HOA) Fees? Here’s What You Need to Know
  • Should You Sell Or Rent Your Primary Residence
Equal housing & Realtor

Looking For Something?

Our Location

3333 E Camelback Rd
Suite 150
Phoenix, AZ 85018

Copyright © 2023 · Powered by MySMARTblog