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The Federal Open Market Committee just made a press release following their two-day meeting. The text can be read at the Federal Reserve Web site.
I will provide some additional reading material from the WSJ shortly (because I love their "Parsing the Fed" series). For now, the key verbiage in the statement is below:
Recent indicators have suggested somewhat firmer economic growth, and some tentative signs of stabilization have appeared in the housing market. Overall, the economy seems likely to expand at a moderate pace over coming quarters.
In other words, housing's "stabilization" isn't expected to lead to runaway economic growth.
Markets like this news and are retreating a bit off their highest levels since October.
Dan Green (NMLS #227607) is an active loan officer with Waterstone Mortgage. Email Dan ator click to get a free, no-obligation rate quote.
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