FOMC , ,

Fed Minutes Show Lower Unemployment And Higher Growth For 2011 and 2012

The Federal Reserve released its January 25-26, 2011 meeting minutes Wednesday afternoon. Washington mortgage rates have been in flux since. Fed Minutes are comprehensive recaps of Federal Open Market Committee meetings; a detailed look at the debates and discussions that shape our nation's monetary policy. As such, they're released 8 times annually; 3 weeks after the most recent FOMC meeting. Fed Minutes can be viewed as the unabridged version of the succinct, more well-known "Fed Statement" that's released to markets immediately post-adjournment. Just how much more lengthy are Fed Minutes? The January 25-26, 2011 statement contains¬†395 words The January 25-26,…
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Retail Sales , ,

Retail Sales Rise For 7th Straight Month; Mortgage Rates Worsen

If consumer spending is a keystone element in the U.S. economic recovery, a full-on rebound is likely underway. Tuesday, the Census Bureau released its national January Retail Sales figures and, for the seventh straight month, the data surpassed expectations. Last month's retail figures climbed 0.3 percent as total sales receipts reached an all-time high. It's good news for the economy which is scratching back after a prolonged recession, but decidedly bad news for people in want of a mortgage across the state of Washington. This includes home buyers and would-be refinancers alike. Because consumer spending accounts for the majority of the U.S.…
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