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The Fed noted that business investment in equipment and software continues to expand, and that inflationary pressures on the economy appear to have stabilized. The Fed then re-iterated its plan to leave theFed Funds Rate in its current checking credit score Macon range near 0.000 percent at least until mid-2013.This means that Prime Rate the rate to checking credit score Macon which credit card rates and lines of credits are often tied should remain unchanged at 3.250 for at least another 2 checking credit score Macon years. Furthermore, as expected, the Federal Reserve launched a market stimulus plan aimed at lowering long-term interest rates.

The Fed will sell $400 billion in Treasury securities with a maturity of 3 years or less, and use the proceeds to buy the same with maturity between 6 and 30 years.

Mortgage market reaction to the FOMC statement has been positive this afternoon. Mortgage rates in South Carolina are improving, but note that Wall Street sentiment can shift quickly especially in a market thats as uncertain as this checking credit score Macon one. free credit report application

If todays mortgage rates and payments fit your checking credit score Macon household budget, consider locking in a rate.

The FOMCs next meeting is a 2-day affair, scheduled forNovember 1-2, 2011. The Federal Open Market Committee adjourns from a two-day, scheduled meeting today, the sixth of 8 scheduled meetings this year, and the seventh Fed meeting overall. The FOMC is a designated, 12-person committee within the Federal Reserve, led by Fed Chairman Ben Bernanke. The FOMC is the voting members for the countrys monetary policy. Among its other responsibilities, the FOMC sets the Fed Funds Rate, the overnight rate at which banks borrow money from each other. website for free credit report

Note that the Fed Funds Rate is different from mortgage rates. Rather, they are based on the price of mortgage-backed bonds, a security checking credit score Macon traded among investors. As checking credit score Macon the chart at top illustrates, the Fed Funds Rate and conforming mortgage rates in Simpsonville have little checking credit score Macon correlation.Since 1990, the two checking credit score Macon benchmark rates have been checking credit score Macon separated by as much as 5.29 percent, and have been as close as 0.52 percent. Today, the separation between the Fed Funds Rate and the national average for a standard, 30-year fixed rate mortgage is roughly 4 percent. This spread will change, however, beginning 2:15 PM ET Wednesday. Thats checking credit score Macon when the FOMC adjourns from its meeting and releases its public statement to the checking credit score Macon markets. credit reports for free There is no doubt that the Fed will leave the Fed Funds Rate in its current checking credit score Macon target range of 0.000-0.250%; Fed Chairman Bernanke plans to leave the benchmark rate as-is until at least mid-2013. However, the Fed is expected to add new support for markets.