Fed Releases Statement after 3 day Meeting
The Federal Reserve (FOMC) concluded their meeting today issuing a statement about the state of the US economy. The consensus among most Economists was that their view of the economy was slighly weaker than at the conclusion of their last meeting. Bond markets reacted favorably this afternoon with yields on 10 Year Treasuries down from earlier highs. This should bode well for Mortgage Interest Rates. While they are still at historic lows, they have increased somewhat over the past month or two. Look for interest rates to continue to be favorable for throughout the remainder of this year and into next making it a great time to get a new mortgage via purchasing or refinancing your existing mortgage.
