MyVaRefinance
  • HOME
  • ADVANTAGES OF VA LOAN
  • VA STREAMLINE REFINANCE
  • GET A QUOTE
  • BLOG
  • TESTIMONIALS

Mortgage rates improve slightly after FOMC minutes released

5/20/2009

0 Comments

 

As scheduled, the FOMC has released the minutes from it's recent policy meeting ending April 29th. 

Highlights are as follows:

GDP forecasts cut again.  Previous range was -1.3 to -0.5.  New forecast is -2.0 to -1.3.  2010 still seen turning positive again

Most Fed Governors see a "return to long run potential" taking 5 to 6 years

Most expected gradual recovery with elevated unemployment through 2011

FEWER saw risk to inflation outlook

some note risk that inflation could stay persistently too low

Most expected Inflation to be subdued over next few years

Most agreed inflation risks are balanced

Economy still facing significant downside risks.

Available data indicates stabilization still tentative

Some evidence emerging that the RATE of contraction is starting to decrease.  (aka "less bad")

Many believed risk of protracted deflationary period had decreased

Security Purchases remain intact

SOME THOUGHT SECURITIES PURCHASES SHOULD BE INCREASED IN ORDER TO STIMULATE RECOVERY

Long run forecasts unchanged

2009 core PCE target revised upward from .9 - 1.1 to 1.0-1.5

2009 unemployment forecast now 9.2 to 9.6 % versus 8.5 to 8.8% previously

0 Comments



Leave a Reply.

    Archives

    December 2013
    August 2013
    July 2013
    May 2013
    February 2013
    December 2012
    November 2012
    September 2012
    April 2012
    December 2011
    November 2011
    August 2011
    July 2011
    June 2011
    May 2011
    April 2011
    March 2011
    February 2011
    January 2011
    December 2010
    November 2010
    October 2010
    September 2010
    July 2010
    June 2010
    May 2010
    April 2010
    March 2010
    February 2010
    January 2010
    December 2009
    November 2009
    October 2009
    September 2009
    August 2009
    July 2009
    June 2009
    May 2009

    Categories

    All
    Home Loans
    Irrrl
    Mortgage Rate News
    Refinance
    Va Loan
    Va Loan Rates
    Va Loans
    Va Mortgage Loan
    Va Mortgage Rates
    Vamortgage Rates
    Va Refinance

    RSS Feed