Upon Closer Inspection, The Federal Reserve Isn't 100% Positive About The Future Of The Economy
By David Kosmecki
(American Pacific Mortgage)
Both mortgage rates and home affordability took a turn for the better in Plymouth Wednesday after the Federal Reserve released its December 15-16, 2009 meeting minutes. The Fed Minutes is a follow-up piece to the post-FOMC meeting press release. But whereas the press release is succinct and to-the-point, the minutes are lengthy and often meandering. As a comparison, December's press release contained 535 words. December's minutes had 6,260. But these "extra words" aren't superfluous. They're actually very important to homeowners. Because the Federal Reserve's internal debates help to shape Wall Street expectations, it doesn't take much for those conversations to have a trickle-down effect on Main Street. For example, after the December meeting, the Fed said that economic growth is stead...