The Federal Reserve doesn't set mortgage rates. Federal Reserve policies do influence the overall price of money in the marketplace as they manipulate the Federal Funds and Discount rates. The Federal Funds rate (an interest rate on overnight loans made between banks) -- and the Discount rate (a bank's cost of borrowing money from the Federal Reserve directly) both serve to increase or decrease a bank's costs of borrowing money to lend. Mortgage rates are a different story, though, anc a much more complex one. To gain a working understanding, you should read "What Moves Mortgage Rates?"
What mortgage rates is the Federal Reserve offering?
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The plumbing in my home is failing. Is there help?
You should first check with your homeowner's insurance company to see how much of any damage might be covered. -
When do you predict the housing market to turn around?
There are already signs that pockets here and there are starting to recover. -
Why didn’t my bank notify me of my reduced HELOC?
If you mean "advance notification," the answer would be "no." -
How do I get answers regarding CAIVRS?
HSH.com's article, “On the feds' deadbeat database? Here's how to get off it,” explains what CAIVRS is, why you may be on it, and how to get off it. -
Can I lower my interest rate without refinancing?
In general, lenders require borrowers to refinance in order to lower their mortgage rate. However, there is another way to lower your mortgage rate without refinancing: a loan modification.
