Good Afternoon,
It's Fed Day and that means the Fed will release its decision on interest rates and its current Policy Statement later this afternoon. The Fed is expected to leave the Fed Funds Rate unchanged; however, it may offer comments or clues on future rate hikes or inflation concerns.
In other news, the House of Representatives approved legislation that would extend and expand the $8,000 tax credit for first-time homebuyers. While there is more work to be done, a bill may reach President Obama for his signature by the end of this week. I will continue to monitor this situation to see if you may be able to benefit from the bill once it's finalized.
For now, I recommend floating. But be prepared to lock if the Fed's announcement this afternoon adds volatility to the markets. As always, I will let you know if a change of course is needed. In the meantime, I hope that you enjoy the rest of your day. If there is ever anything that I can do for you, please let me know.
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