Mortgage Interest Rate Report By George Dietrich, Mid America Bank, Clarendon Hills IL
In anticipation of a reduction in the rate of Fed Funds, lenders reduced mortgage interest rates to consumers
Stocks are up ahead of the scheduled federal reserve announcement at 2;00 pm Tuesday September 18.The Producer price index was in line which would indicate tame inflation.
The markets have priced in a quarter point decrease in the Fed funds ,rate but some experts say it could be as much as half point. The overall effect of the of the Fed’s actions will be reduced home equity, auto and installment rates. It is thought that the Fed’s comments regarding it’s future policy could l have a calming effect on the overall market.
George Dietrich III
GeorgeDietrich@MidAmericaBank.com
Related Links
The Fed Cuts Fed Fund Rates By More Than Anticipated
Stocks Soar On News On Interest Rate Cut
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