Mortgage Market News

The continued improvement in the U.S. economy could be a signal that short term interest rates will rise at next week's Federal Open Market Committee meeting held on December 15-16. The Federal Reserve Bank of the United States have held short rate close to zero, since the Great Recession began in late 2008. But with an improving economy, the Federal Reserve feels it is now time that interest rates begin to rise. The interest rate in question is the Federal Funds Rate, which is the rate in which banks lend balances at the Federal Reserve to other banks on an overnight basis.
The U.S. Stock markets got off to a rocky start this week as the closely watched Dow Jones Industrial Average was nearly 200-points lower in early trading. Stocks have had a volatile year after solid gains seen in 2014. The Dow is currently down 1% year-to-date after an 8% rise last year. However, the Dow is up from the 6,500 level hit back in March of 2009 to the present level of 17,700.
Popular food chain, Chipotle, continues to endure the aftershocks from its recent E.coli breakout that has now expanded into nine states. The crux of the problem is due to the fact that Chipotle and other restaurants are putting greater focus on fresh unprocessed foods and while it may be good nutrition wise, it raises the risk of foodborne illnesses because cooking kills pathogens that cause illness. Because of this problem, the company expects sales to fall 8-11% this quarter.
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