A Simple Explanation Of The Federal Reserve Statement (September 23, 2009 Edition)
It also reiterated plans to support the mortgage market to the tune of $1.5 trillion.
In its press release, the FOMC noted that the U.S. economy is "picking up following its severe downturn" and that financial markets have "improved further".
It's the second consecutive post-FOMC statement in which the Fed appears somewhat optimistic -- a signal that the recession will end soon, or has already ended.
That said, the economy still has some soft spots and the Fed made a point to single them out. Each poses a distinct threat to economic recovery.
Also in its statement, the Fed confirmed its plan to hold the Fed Funds Rate near zero percent "for an extended period" and to honor its $1.25 trillion commitment to the mortgage bond market.
However, the FOMC changed its timeframe on the mortgage-backed bond buys, extending its deadline to March 2010. This move should help the Fed keep mortgage rates from rising too high as the economic expansion takes hold.
Market reaction to the Fed's press release is positive. After an early day sell-off that drove rates higher by about a quarter-percent, most of the pressure is easing. Pricing is worse on the day overall, but well off its lows.
The Gary McNinch Team home website is www.RentonHomeFinder.com My twitter handle @RentonHomeFinde Our facebook page is Gary McNinch on Facebook My Active Rain website is Gary McNinch Team on ActiveRain Gary McNinch Team Realtor Renton WA Real Estate Keller Williams Realty Renton WA. Call us 206-696-2329, email Gary@GaryMcNinch.com Serving Renton, Kent, Auburn, Newcastle, Skyway, Fairwood, Renton Highlands and Kennydale.
Please tweet us, text us, or send us a snail mail. We like to hear from our many satisfied clients.
Oh and PS .. The FOMC's next scheduled meeting is November 3-4, 2009.
City of Renton just opened the Cedar River Off Leash Dog Park. I was looking at homes in Fairwood the other day and swung by to take a look. Nicely done.Kudos to the city and the RUFF (Renton Unleashed Furry Friends) volunteers who raised money and worked on this project.
And sometimes it' s important to remember that some people love their dogs more than their kids.Here's a link to the Renton Reporter article. Renton dog park opens with a bark
Whether you are buying a Renton home mostly for you or mostly for your pets we are glad to help.
The Gary McNinch Team home website is www.RentonHomeFinder.com My twitter handle @RentonHomeFinde Our facebook page is Gary McNinch on Facebook My Active Rain website is Gary McNinch Team on ActiveRain Gary McNinch Team Realtor Renton WA Real Estate Keller Williams Realty Renton WA. Call us 206-696-2329, email Gary@GaryMcNinch.com Serving Renton, Kent, Auburn, Newcastle, Skyway, Fairwood, Renton Highlands and Kennydale.
Please tweet us, text us, or send us a snail mail. We like to hear from our many satisfied clients.
So here is the way it is supposed to work.... I'll tell you the rest of the story at the end.
Opened AR a while back, and look what I see ..... CONTACT FROM SOMEONE REFER SELLING THEIR HOME...
So I am excited, ready to go, always like to list and sell a great Renton home.
SCROLL DOWN FOR THE REST OF THE STORY.................
So.. These folks are my neighbors 3 blocks away, in my geographical farm area, I helped them arrange a refi a few years back... I remember when their baby was born.... I wave at him a couple times a month as he drives by.
INTERESTING.... rather than call or walk down the street, she googles me and AR pops us and she sends me an email through AR.
We love our customers and nice when they find us on Active Rain. Just another value of Social Networking. (and having great neighbors) and watch for a great townhome for sale soon
The Gary McNinch Team home website is www.RentonHomeFinder.com
My twitter handle @RentonHomeFinde
Our facebook page is Gary McNinch on Facebook
My Active Rain website is Gary McNinch Team on ActiveRain
Gary McNinch Team Realtor Renton WA Real Estate Keller Williams Realty Renton WA. Call us 206-696-2329, email Gary@GaryMcNinch.com Serving Renton, Kent, Auburn, Newcastle, Skyway, Fairwood, Renton Highlands and Kennydale tweet us, text us, or send us a snail mail. We like to hear from our many satisfied clients.
On the 1-year anniversary of the Lehman Brothers collapse (CAN YOU BELIEVE IT HAS ALREADY BEEN A YEAR), Fed Chairman Ben Bernanke said Tuesday that the "recession is very likely over at this point".
His comments were supported by a Retail Sales report for August that was much better-than-expected.
Equities improved on the day, mortgage markets worsened, and Renton home affordability suffered.
The days of ultra-low Renton mortgage rates may be coming to an end.
Since last September, mortgage bonds markets have been in Rally Mode. As the Financial Crisis of 2008 worsened, investors fled the relatively risky world of stocks and moved dollars into safer investments like cash and bonds -- including the mortgage-backed kind.
Risk aversion is common when market uncertainty exists but last year's aversion was so strong that, by late-November, it had forced mortgage rates down to an all-time low.
Since November, however, rates have been on the rise. Stronger economic data and a NATIONAL general feeling of optimism have helped stock markets recover and some of those gains are coming at the expense of low mortgage rates.
Therefore, if you're wondering what mortgage rates might do going forward, listen to the words of the Federal Reserve Chairman. If he sees economic recovery ahead, it's probably going to happen.
It should spell higher mortgage rates into 2010. In fact my guess is rates will be in the middle 6's by next summer. And my personal opinion is that the economic slowdown-recession-depression or whatever you want to call it in the Puget Sound is not over. It is going to be another year or two and many local families are going to struggle. Our area entered the depression late and we may be the last to come out of it.
Give us your thoughts about the local economy and we will talk about the Renton Real Estate economy. The old adage, as most are, is true "Real Estate is Local".
Our thoughts from the Gary McNinch Team Renton Realtors.
The Gary McNinch Team home website is www.RentonHomeFinder.com
Take a look at the City of Renton webpage about the great Independence Day Celebration at Coulon Park on Lake Washington in Renton. Saturday Afternoon Party, Saturday evening Fireworks. Thank you to all the sponsors and the City Employees who work to make this great while our families can party.
This great day is sponsored by the retail establishments in the Landing, so make sure you support our local businesses.
Enjoy the day with your family, friends and neighbors and if you are thinking of relocating to Renton take a look at the city website and you will see how much is happening in our community.
Our freedom has been earned and paid for by our service men and women. When you see a military person or their family this weekend make sure and take a moment to say thank you and express your appreciation. Enjoy the red, white and blue.
We subscribe to the Keller Williams Realty Company Motto, "God, Family, then Business." Enjoy all three this weekend.
My home website is www.RentonHomeFinder.com
My twitter handle @RentonHomeFinde
My facebook page is Gary McNinch on Facebook
My Active Rain website is Gary McNinch Team on ActiveRain
Gary McNinch Team Realtor Renton WA Real Estate Keller Williams Realty Renton WA. Call us 206-696-2329, email Gary@GaryMcNinch.com tweet us, text us, or send us a snail mail. We like to hear from our many satisfied clients.
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Renton Realtor that specializes in Renton Wa Real Estate and educates buyers and sellers of homes and condos in Renton, Talbot Hill, Fairwood, Newcastle, Skyway, Renton Highlands, Kent and Kennydale.
The McNinch Team is Amazing or "Awesome" as my grandson says. We enjoy each other's company, our clients and getting the very best for everyone. To read more about us please go to our Team website www.RentonHomeFinder.com and it talks about all of us.
Please call us at 206-696-2329 or email Gary@GaryMcNinch.com if you have any questions. Our goal is to build long lasting relationships with our clients (old and new) and now our business is about 75% referral from Satisfied Customers. And please check out or 100% Satisfaction Guarantee. Giving you the best service in Renton WA Real Estate.
This means "What are we good at?".
Well first off, we follow the Keller Williams Values, they are called the WI4C2TS.
Second, we believe that the buying and selling of a home or condo is usually the "most important financial decision" that a perso
n or family will make. With our experience, passion and continuous updated market knowledge and education, we provide solid information for our Satisfied Clients to make these decisions.
Thirdly, we know that our business is everchanging. Through the great training of Keller Williams University, Mega Agent Training, Business Planning, MREA classes, we strive to stay ahead of and manage those changes to serve you.
Finally, None of the Above matters unless, we give you great service. When you buy or sell a home, condo, townhome, land, rental or investment in Renton, Talbot Hill, Skyway, Cascade, Fairwood, Downtown Renton, Renton Highlands, Kennydale, Newcastle or Kent we have the experience to assist and guide you with locating, offering, negotiating, listing, staging, financing, inspecting and closing.
Please click here for words from our Satisfied Customers. When buying, selling, trading or dreaming about your next home in Renton, be assured when it is time to go to work, the Gary McNinch Team will go to work for you. 100% Satisfaction Guarantee or we return our share of the Realtor fee, no other Realtor will do that!
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