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Federal Reserve

Say what? The Fed statement for dummies

The Federal Open Market Committee was upbeat over strengthening in the housing sector and a hop in household spending. But it voiced concern that unemployment remains stubbornly high. With inflation at 1.5 percent, the Federal Reserve will continue to keep the federal funds rate near zero in hopes it will jump-start the jobs market and keep the economy from faltering.

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How Fed moves affect mortgage rates

Click through the timeline below to see the effect the Fed's moves had on mortgage rates.

QE3 End of QE2 QE2 End of QE1 QE1 2008 Financial crisis

The Federal Open Market Committee

The rate-setting Federal Open Market Committee meets at least eight times a year. Its members include the Board of Governors of the Federal Reserve System, the president of the Federal Reserve Bank of New York and a rotating selection of presidents of the other 11 reserve banks.

Ben S. Bernanke

Board of Governors (Chairman)

William C. Dudley

New York
(Vice-Chairman)

Elizabeth A. Duke

Board of Governors

Charles Evans

Chicago

Esther George

Kansas City, Mo.

Eric Rosengren

Boston

James Bullard

St. Louis

Sarah Bloom Raskin

Board of Governors

Daniel K. Tarullo

Board of Governors

Janet Yellen

Board of Governors

Jerome H. Powell

Board of Governors

Jeremy C. Stein

Board of Governors

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The Federal Reserve, taking a fresh look at the economic tea leaves, has decided that a cocktail of record-low interest ...
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Mortgages
As the economy heats up, stock prices rise, scorching mortgage borrowers.

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Overnight Averages
Product Rate +/- Last week
30 yr fixed mtg
3.66% 3.58%
15 yr fixed mtg
2.79% 2.72%
5/1 ARM
2.59% 2.57%
View rates in your area:
Product Rate +/- Last week
$30K HELOC
4.99% 5.00%
$30K home equity loan
6.18% 6.21%
$50K HELOC
4.56% 4.58%
View rates in your area:
Product Rate +/- Last week
48 month used car loan
2.93% 2.97%
48 month new car loan
2.45% 2.46%
36 month used car loan
2.89% 2.94%
View rates in your area:
Product Yield +/- Last week
6 month CD
0.45% 0.43%
1 yr CD
0.67% 0.63%
5 yr CD
1.24% 1.24%
Compare rates:
Product Rate
Balance Transfer Cards 15.92%
Cash Back Cards 16.34%
Low Interest Cards 11.01%
Compare rates:
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