Federal Reserve Hold Key Interest at 5.25% in May 2007 Meeting

The minutes from the Federal Reserve meeting on May 9, 2007 were released on Wednesday May 30th.  The Feds were concerned about the downturn in the housing market was more extreme than expected.  Even though housing is worse than expected, the Feds were still very concerned with core inflation.  The Feds felt core inflation is still uncomfortably high.  The Feds voted to hold the Feds Funds Rate  steady at 5.25%.  This was the 7th straight meeting that the Feds held the interest rate steady.

After viewing the minutes of the meeting, many economist believe the Central Bank will keep interest rates unchanged for the rest of the year.

The stock market continued its rally on the new from the Feds.  The rally in the stock market has driven mortgage rates up.  As the market continues to rally, Delaware mortgage rates will most likely continue to rise.

If you would like to apply for a Delaware Home Loan, you can APPLY ONLINE HERE, you can call John R. Thomas at 302-703-0727.

John R. Thomas – NMLS 38783

Certified Mortgage Planner – Primary Residential Mortgage, Inc.

302-703-0727 DE Office / 610-906-3109 PA Office / 410-412-3319 MD Office

248 E Chestnut Hill Rd, Newark, DE 19713