Implied Fed Rate Cuts Spur Housing And Mortgage Activity

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An alternative approach (call it qualitative easing, if you like) would be for the Fed to target a specific outcome it wants to see – conventional mortgage rates below X percent or whatever.

The Fed is buying $85 billion a month in Treasury bonds and mortgage-backed securities to hold down long-term interest rates and spur economic activity. Many investors. the rise in mortgage rates.

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Steady Rates Spur Rise in Mortgage Applications. The Federal Reserve and U.S. Mortgage Rates;. "Housing activity in general has retreated from levels that were temporarily boosted by 2017.

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History shows rate cuts of 3% are required to spur an economy out of recession. The U.S. Fed rate is currently 2% (interestingly 0.25% above New Zealand which is unprecedented). There are also inflationary pressures on interest rates in the U.K. and Europe.

FILE- In this Feb. 26, 2019, file photo Federal Reserve Chairman Jerome Powell testifies before the Senate Banking, Housing. bought mortgage and Treasury bonds after the 2008 financial crisis to.

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Mortgage Rates on New Home Purchases Remain Low By Michael Neal on October 3, 2017 (). The Federal Housing Finance Agency reported that contract rates on purchases of newly-built homes rose 7 basis points over the month of August 2017 to 4.01 percent. The average mortgage rate on purchases of newly built homes is 47 basis points above the low touched in October 2017.

The Federal Reserve cut the discount rate a full point to 3.5 percent near the end of December, and since then the cut’s effect on the economy has been a hot topic. Almost from the start, the reactions of the major markets have been bold, front page news. The stock market is up. Banks have cut their rates. Even gold prices have fallen.

In fact, the expectation of future Fed rate hikes is already putting upward pressure on mortgage rates. The benchmark 30-year, fixed-rate mortgage rate jumped three basis points to 4.4 percent this past week. Since the start of the year, the benchmark rate has climbed almost half a percentage point and has increased for eight consecutive weeks.

The Federal Reserve held its target interest rate range steady at 2.25% to 2.5%, but projections now point to a rate cut in the future. The decision was not unanimous. One voter preferred that the fed funds rate range be lowered.