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Mortgage Rate Update - FED Meeting Impact 8/9/2011
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Ian Carmichael
Mueller Community

Posts: 17
Joined on October 13th, 2010
Mortgage Rate Update - FED Meeting Impact 8/9/2011
by Ian Carmichael on August 10th, 2011

Hi again Muellerites,

History is repeating itself once again as mortgage rates are nearing our lows seen in the latter part of 2010. Famed investment bank Goldman Sachs is predicting this morning that QE3 is likely coming. QE stands for quantitative easing.

For humorous insight on QE2 see the YouTube video from 11/11/2010 (disclaimer: has potty language and political commentary)

Last year mortgage rates moved lower on the "rumor" of QE2 and moved higher on the actual "news" of the announcment on 11/1/2010 and when they moved higher they did with a vengeance rising 1.25% in just 6 weeks.

Mortgage rates are highly dependent upon Fannie Mae Mortgage bonds which are bought and sold on Wall Street (and to a lesser degree the 10 Year Treasury note) and we are on a nice rally and all good things must come to an end...

It is interesting to note that mortgage rates have been at their all time lowest levels when the FED is out of the market and as of right now they are b/c QE2 came to an end on 6/30/2011.

If QE3 is announced to bring calm and stability to the stock market we should expect this year's move lower for mortgage rates to be much shorter. PIMCO's Bill Gross, the worlds largest bond fund manager, tweeted on June 22nd that QE3 would be hinted on August 26th when the FED meets at Jackson Hole, Wyoming. We all know what the stock market has done since that time...

If you would like to have a refinance analysis done, I have a no weasel clause which means no pressure and strings attached for your analysis. If refinancing does not make sense, I'll be the first to tell you.

Please complete the attached worksheet and fax or e-mail back.


Ian Carmichael
Envoy Mortgage
P. 512-306-8502
F. 512-306-8503

PS. I have helped several folks in Mueller and can provide references upon request.
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