June 7, 2017

Mortgage News

Janet Yellen expressed that the FOMC (Federal Open Market Committee) decided to raise the target range for the federal funds rate by .25 of one percentage point. This is in accordance with their goals toward maximum employment and price stability objectives which are assigned to the committee.

She briefly mentions the normalizing of the balance sheet objectives and that economic growth appears to have rebounded. Household spending was supported by growth in the job market and relatively higher levels of consumer sentiment and wealth, expanding business investment and exports. We have also seen a lower unemployment rate as well.