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Fed Holds Steady on Rates

January 30th, 2010 12:37 PM by Sam Kader

The Fed meeting concluded on Wednesday by leaving the fed funds rate unchanged at .25% (Prime is currently at 3.25%). Fed also reiterated the fact that given sluggish job recovery (even with positive note on GDP growth at 5.6% highest in 6 years) that sustainable economic recover may be difficult to achieve.  The central bank also reaffirmed that it expected to complete its $1.25 trillion purchase of mortgage backed securities by March 31. Invariably that will affect trends on mortgage rates (guess which direction rates will he heading?).
Posted in:General
Posted by Sam Kader on January 30th, 2010 12:37 PM

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