ALL EYES ON FED STATEMENT WEDNESDAY – 50/50 CHANCE FOR TAPERING
December 16th, 2013
All eyes are on the FED and The FOMC meeting this week. The FOMC starts their meeting on Tuesday and will release their statement at 2 pm Eastern on Wednesday.
There is more and more speculation that the FED could taper at this meeting – many experts now calling it a 50/50 proposition. Some prognosticators are actually predicting the FED to taper like the opinion below:
“We now look for the Fed to do something meaningful at the December 18 meeting,” wrote Michael Moran at Daiwa Capital Markets America in a note. “We view the announcement of a reduction in asset purchases as the most likely outcome; absent this, we expect some type guidance on the FOMC’s plans for the effort.”
If the FED tapers, the markets will also be looking at how much they will pull back on their bond purchasing budget. Any sort of taper will likely mean a large rise in rates.
With interest rates at around 4 month highs – I am still suggesting locking before the meeting. If rates drop significantly after the announcement (unlikely) – rate float downs are available when rates drop .25% with the same costs.
Have a great week!!
BEST VALUE OF THE WEEK:
20 Year Fixed at 4.375% with 0 points
10 Year Fixed at 3.375% with 0 points
TODAY’S RATES:
30 year fixed: 4.5% – .58 points, 4.625% – 0 points, 4.75% – $0 costs
20 year fixed: 4.125% – .99 points, 4.375% – 0 points, 4.5% – $0 costs
15 year fixed: 3.5% – .63 points, 3.625% – 0 points, 3.875% – $0 costs
10 year fixed: 3.125% – .63 point, 3.375% – 0 points, 3.625% – $0 costs
5/1 ARM: 2.75% – .99 points, 3.125% – 0 points, 3.375% – $0 costs
7/1 ARM: 3.25% – .83 points, 3.5% – 0 points, 3.75% – $0 costs
30 year fixed FHA: 4% – .56 points, 4.125% – 0 points, 4.25% – $0 costs
15 year fixed FHA: 3.25% – .81 points, 3.5% – $0 costs, 3.75% – $0 costs
30 year fixed VA: 4% – 1 point, 4.25% – $0 costs
Today’s Mortgage Interest Rates. Current Mortgage Interest Rates and APRs for refinancing and purchasing in Arizona, California, and Colorado. Arizona Home Loans, California Home Loans, Colorado Home Loans. Arizona refinance, California refinance, Colorado refinance. Scottsdale, Arizona Mortgage Banker in McCormick Ranch. McCormick Ranch Loan Officer. Mortgage Rate Sheets for fixed mortgages, ARM mortgages, Variable Mortgages, Interest Only Mortgages, HARP mortgages, HARP 2.0 mortgages, DU Refi Plus Mortgages, Freddie Mac Open Access Mortgages, Fannie Mae Home Path Mortgage, Freddie Mac Foreclosure Relief Mortgage, VA mortgages, VA Interest Rate Reduction Loans, FHA mortgages, FHA streamline refinance mortgages, Conforming mortgages, Conventional Mortgages, 100% Financing Mortgage, High Balance Mortgages, Fannie Mae mortgages, Freddie Mac Mortgages, No appraisal refinance, 0 point mortgages, 0 closing cost mortgages, paying a point mortgages, Refinance mortgages, purchase mortgages, and Jumbo Mortgages. December 16th mortgage interest rates
ALL EYES ON FED STATEMENT WEDNESDAY – 50/50 CHANCE FOR TAPERING
