Mortgage Market Update
This Mortgage Market Press Release was received on April 27, 2011 from First Home Mortgage, compliments of Kathy Barnes and Ryan Heinemann:
"The Federal Open Market Committee (FOMC) concluded their two day meeting today. In a statement released just after the meeting, the Fed pledged to maintain the status quo of exceptionally low interest rates and follow through on their treasury purchase program which will end in June. Chairman Bernanke also spoke after the meeting in a press conference and answered questions. Bernanke said the Fed is committed to keeping monetary policy accommodative until job growth accelerates and the economic recovery is strong enough to withstand tighter credit. Mortgage prices were slightly better this afternoon."