The Federal Reserve on Wednesday kept its easy money policy in place despite the accelerating economy. As expected, the U.S. central bank decided to keep short-term interest rates anchored near zero as it buys at least $120 billion in bonds each month. Fed Chairman Jerome Powell said the recovery is “uneven and far from complete”, so it still is not time to talk about reducing policy accommodation, including the asset purchases.

Lower-income homeowners could benefit from a new refinance program being launched by the U.S. government. Eligible borrowers will be able to refinance their mortgage at a reduced interest rate and lower monthly payment starting this summer.

Mortgage Bonds are modestly higher while the 10-year year holds steady at 1.63%. Next week, the Fed will purchase up to $31.46B, about $6.3B per day on average.

Let’s wait and see what happens for now. Consider locking in the rate if the interest rates goes down next week.

尽管美联储承认经济正在加速发展,但它周三仍维持宽松货币政策。不出所料,美国中央银行决定将短期利率维持在接近零的水平,并继续购买债券。美联储主席鲍威尔(Jerome Powell)表示,经济复苏“不平衡且还远远没有完成”,因此,现在还不是时候讨论减少政策调整,包括资产购买。


抵押债券温和走高,而十年期则稳定在1.63%。下周,美联储将平均每天购买高达$ 31.46B或$ 6.3B的资金。


Economic Calendar 
Report Period Estimate Impact
Date: Mon. May. 03
ISM Index Apr 64.9 High
Date: Wed. May. 05
ADP National Employment Report Apr 750K High
ISM Services Index Apr 64.0 Moderate
Date: Thu. May. 06
Productivity Q1 -2.8% Moderate
Jobless Claims (Initial) 5/01 521K Moderate
Date: Fri. May. 07
Hourly Earnings Apr 0.1% High
Average Work Week Apr 34.9 High
Non-farm Payrolls Apr 925K High
Unemployment Rate Apr 5.8% High
Today’s Rates 
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