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For the 7th consecutive month, the Case-Shiller Index showed a reduction in annual home price declines. That's more than two seasons, folks. Surely, by now, we can say housing is in recovery.
Are mortgage rates going up? Are mortgage rates going down? I am a regular participant in the Bankrate.com Mortgage Rate Trend survey and this week's survey may point you in the right direction. Here's what I told Bankrate.com: "Demand for dollars-denominated bonds helps rates to ease lower."
The Federal Reserve meets next week for a policy-setting meeting. It’s one of 8 scheduled Fed meetings this year in which the Federal Open Market Committee votes on whether to raise, lower, or leave unchanged the Fed Funds Rate. The Fed Funds Rate's macroeconomic implications, in part, led to the creation of the Fed Funds Futures market. Traded on the Chicago Board of Trade, Fed Funds Futures options contracts lets investors "bet" on what the Federal Reserve will do to the Fed Funds Rate at the next Fed meeting.
