The latest FOMC Meeting ended on September 16th. The Fed Statement released after the meeting reiterated their commitment to keeping Banking Interest Rates at or near zero through 2023. They also reinforced their tolerance for higher Inflation by allowing it to run above 2.0%, even up to 3.0%, for the next 5 years. During many speaking engagements in September, Chairman Powell and other Fed Governors publicly emphasized the need for additional Fiscal Stimulus from the Federal Government. The Fed (Federal Reserve Board) said they will continue to provide credit by purchasing Mortgage and Treasury Securities at the current pace. At this point, the Fed owns roughly a third of all mortgage bonds in the country.*
ABBA First Mortgage continues to monitor the lowest mortgage rates in NC and TN by following the most newsworthy articles such as the one found above. We believe that an educated consumer will find that working with us will satisfy their needs for what they are seeking- the best mortgage product at the lowest mortgage interest rate supported by exceptional service that is second to none. Please give us a call at 866-676-3349 and see for yourself what others have found to be true for 15 plus years.
*The content in this newsletter has been created by an independent third party for use by Mortgage and Real Estate Professionals only and not for use by Consumers. The material provided is for informational and educational purposes only and should not be construed as investment, legal, financial, or mortgage advice. The information is gathered from sources believed to be credible, some is opinion based and editorial in nature. Act Appraisal Inc and Mortgage Elements Inc do not guarantee or warrant its completeness or accuracy and there is no guarantee it is without errors.
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