This entry was posted on Tuesday, December 12th, 2006 at 8:37 am and is filed under Mortgage Rates. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.
Sacramento Mortgage Rates
The benchmark 30 year fixed stood its ground at 6.125% (no points) and 5.875 (with one point), both having fallen nearly 125 basis points from their highs earlier in the year.
The FOMC announcement today was a yawner. As expected, the Fed left the Fed Funds rate unchanged at the current 5.25% level. The experts had forecast that the Fed would stand pat as they continue to ponder the tug of war between inflation and a slowing economy. Until this week, Fed Funds futures contracts were pricing in a probable rate cut by next March.
As of today, those hopes seemed be evaporating until the Fed can get a better idea of which way the pendulum will swing.