Waiting on the Fed's Decision

I’m preparing this post so I’ll be ready to publish as soon as I hear what movement, if any, the FOMC will take to rates.  I really can’t guess if they’ll leave the Funds rate unchanged or cut.  This morning, the Fed Funds Futures had a 100% change for a 0.25% cut and a 50% changes for a 0.50%.   Although  reducing the Fed Funds rate is great for home owners with HELOCs, it could mean higher mortgage interest rates for the rest of us.

And the decision is….(to be continued)…

Update September 15, 2008 11:15 am:  NO CHANGE!  In a unanimous decision, the Fed Funds rate remains at 2.0%.  You can read the entire press release by clicking here.

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About Rhonda Porter

Rhonda Porter is an NMLS Licensed Mortgage Originator MLO121324 for homes located in Washington state. Her blog, The Mortgage Porter, is nationally recognized for sharing relevant information to consumers about mortgages. She has been originating mortgages since 2000 at Mortgage Master Service Corporation #40445 Consumer NMLS Website: http://www.nmlsconsumeraccess.org/TuringTestPage.aspx?ReturnUrl=/EntityDetails.aspx/COMPANY/40445 NMLS ID 40445. Equal Housing Opportunity. You can follow Rhonda on @mortgageporter, Facebook and/or Google+

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