Moore Mortgage Solutions

    Yesterday, the Federal Open Market Committee released their minutes from their two day meeting.

    Bernanke and Company decided to hold the Fed Fund Rate at 2% though "Loose Lips" Fisher voted for a hike in the rate. Fisher has consistently over the last several meetings voted for a rate hike. He feels that inflation could be a problem in the near future.

    The press release also stated that the committee feels that the financial markets and the tight credit conditions are causing stress and stunting the overall economic growth in our country. But with the changes in the Fed policy and the different measures put into place over this past year, economic growth should slowly take hold.

    As to inflation overall, which does cause the mortgage interest rates to go up, the Fed is concerned about it but not concerned enough to indicate a Fed Fund Rate hike in the near future. This, of course, caused the stock market to surge at the end of the day and the bond market to drop. And mortgage interest rates did moved a bit higher.

    And a little bit of important news to the FOMC, Elizabeth A. Duke was sworn into the committee this week and she voted in this week's meeting. Several of the FOMC members will either be retiring or their terms will be up so filling these seats are important. It is the President who nominates these members with Congress approving them.

    Please feel free to contact me with your concerns about your mortgage needs. I am here to help you.

    And make each day an inspired one!

Betsy Moore

206-331-2749

betsy@mooremortgagesolutions.com