Wednesday, May 9, 2007

Interest Rates To Hold Steady...For Now

At least for now. A Market Watch article by Greg Robb. The Federal Reserve has been pretty consistent at keeping the rates low....their target goal remains 5.25%. I gather what was intriguing about this is that the concern for inflation has still not translated into a change in Federal Reserve Policy - which has stayed the same since August 2006 and earlier.

Translated, to me, it means the FR feels our market will recover on it's own without a need for tweaking on their part. To read more about the Market Watch coverage of this new development, go here.

For those of you who are stock and Market wonks, here is Market Watch's 'take' on Ben Bernanke and his style compared to Alan Greenspan. Apparently we no longer have to watch how the Chairman is carrying his briefcase to see if interest rates will rise or fall :-)

Mortgage rates for the week are hovering around 5.75% for a 30-year fixed rate loan. I found it curious that a 30 year market loan rate is listed as better than a VA Loan this week. If you are curious about other types of rates/loans, check out this week's results here.

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