Fed Leaves Key Rate Unchanged
The Federal Reserve announced it will maintain its target for the federal funds rate in the 0 percent to 0.25 percent range, and expects economic conditions to warrant exceptionally low levels of the federal funds rate for an extended period of time. “Information ... suggests that economic activity continues to strengthen and that deterioration in the labor market is abating,” the Fed said in a prepared statement. This is not directly connected to the mortgage rates but gives an indication of the present thinking.