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The December Fed Minutes show the U.S. economy in expansion, and threatened by a European slowdown. Mortgage rates will be volatile for a while and if your rate is not locked, it's floating -- a dangerous situation.
According to the Fed Minutes, Operation Twist was a compromise and more stimulus could be on the way shortly. Here's what that could mean to mortgage rates.
As compared to last year, today's mortgage rates are higher by about a half-percent. It's because the economy is growing. Wall Street sees it. The Fed sees it. You should see it, too -- and do something about it.
As compared to November, mortgage rates are up. As compared to history, however, mortgage rates remain low. That likely won't stick. Not with the Federal Reserve planning for economic growth.
The Federal Reserve released its September 21, 2010 meeting minutes Tuesday afternoon. Mortgage rates in Ohio are slightly higher since.
Mortgage markets improved yesterday after the Federal Reserve released its March 16, 2010 meeting minutes. It's good news for Cincinnati home buyers and rate shoppers -- rates could have just as easily gone the other way.
