Federal Reserve Chairwoman Janet Yellen made some bond friendly remarks in her semi-annual report to Congress. She said a high degree of monetary policy accommodation remains appropriate since the U.S. economic recovery is not complete and too many Americans remain unemployed. Most Fed officials do not expect raising rates until next year. Meanwhile conforming no point 30 year fixed mortgage rates still average 4 1/8th with 15 year rates closer to 3 1/8th.
And now for something, completely different: Did you know that computer users blink an average of 7 times per minute? The average person blinks 22 times per minute!
For more information on a home purchase, a refinance, or a reverse mortgage, visit our website at www.ARAMCO.Biz or call me at (877) 700-0942.
This is Mehran Aram with today's ARAMCO Report.