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Fed's Pianalto Says Economic Downturn More Serious Than She Thought

Speaking at the City Club of Cleveland on Friday, Cleveland Fed President Sandra Pianalto (voter) said the current economic downturn is more serious that she had expected. "At the moment, the signs point to a recession beyond just a 'garden variety' downturn," she said. "The length...

Posted to Fed and Economy Watch by CEP News Feed on Fri, Nov 14 2008
Filed under: Filed under: economy, sandra pianalto

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Mortgage Rates:

30 Yr FRM 3.85%
|
15 Yr FRM 3.23%
|
Jumbo 30 Year Fixed 4.10%

MBS Prices:

30YR FNMA 4.5 106-27 (0-01)
|
30YR FNMA 5.0 108-06 (0-00)
|
30YR FNMA 5.5 109-02 (0-01)

Recent Housing Data:

Mortgage Apps 15.55%
|
Refinance Index 17.15%
|
Purchase Index 12.50%

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Fed's Pianalto Says Economic Downturn More Serious Than She Thought

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