The FED has spoken.....

And it is good news.....if you are in the market for a mortgage that is. Here is my breakdown of the what the FED had to say:

Economy recovering, slow and steady , overseas issues will slow things further domestically, inflation is in check and the FED funds rate is to remain unchanged for the foreseeable future......

So, in a nutshell, the  economy still sucks and will suck for a very long time. Toxicity overseas will slow our recovery even more, which is only fair since it was our toxicity that started theirs. (Bernanke managed to leave that last little nugget out) As a result, our mortgage rates should remain low.

Today, rates opened at levels similar to yesterday, which is very good. I do not anticipate rates to improve today, but tomorrow is another day. I will continue to recommend locking while we are staring at rates in the mid 4's. Now would be the time to tell a friend about me.....