"The Federal Open Market Committee will release its decision and statement on interest rates at 2:15 p.m. ET today. There is an 88% chance that the Fed will boost the overnight lending rate to 5.25% from 5%, and a 12% chance it will boost rates up to 5.5%, according to fed funds futures traded on the Chicago Board of Trade.
"While a rate hike is a virtual certainty, the FOMC's statement will again be carefully analyzed for any clues as to where rates will go from here." (CNBC Money 6/29/06)
Looking foward to the announcement! :-)
"While a rate hike is a virtual certainty, the FOMC's statement will again be carefully analyzed for any clues as to where rates will go from here." (CNBC Money 6/29/06)
Looking foward to the announcement! :-)
Posts
I'm going with 50 basis points and then hibernating until the fall.
ReplyDeleteDoes it really matter what they boost this rate to? Hasn't it been irrelevent to mortgage rates lately? I remember watching it when I first bought ten years ago since the rate at which my mortgage would be issued could be affected by it. But I think over the last 6 years (or more) it hasn't really effected mortgage rates an iota ... Anyone know why it has become irrelevant to mortgage rates lately?
ReplyDeletelance,
ReplyDeleteIt still does affect mortgage rates, albeit less so then 5, 10 or 15 years ago.
It sure affects the commercial prime rate!
ReplyDeletethat looks like an expensive house you took a photo of.
ReplyDeletedoes Vegas have a line on FOMC moves? Greenspan could handicap if he ever gets tired of his speaking engagements.
ReplyDeleteIf this rate does not impact then why did Chief Cheer Leader DL was begging BB to stop raising rates. I think that it does impact ARM the tool of speculators.
ReplyDeleteBacon,
ReplyDeleteYou can actually get "odds" on the FOMC move on www.hedgestreet.com
You can also gamble on the housing stats in major markets as well as oil futures, etc.
It is a legit site, approved by securites and exchange commission
They just bumped it 25 bips.
ReplyDelete