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Tag Archives: Federal Open Market Committee (FOMC)

Mortgage Credit Availability on the Rise in October

Driven by increased activity in the jumbo mortgage market, the MBA reported mortgage credit availability on the rise to begin Q4, as lenders have begun to offer more ARM products to offset mortgage rates that reached nearly 8% in the second half of October.

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FOMC Holds Rates Steady

The Federal Reserve’s Open Market Committee chose to forgo the opportunity to raise the central bank’s nominal interest rate at the conclusion of their October/November meeting, a repeat of the action the committee last took in September.

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Mortgage Rates Hit Highest Point Since Spring 2002

Not since spring of 2002 have fixed-rate mortgages been as high as they were reported this week, and when combined with mortgage app volume sliding for the fourth straight week, affordability headwinds continue to impact housing demand.

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