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Federal Reserve Announces Rate Hike, as Predicted

first_img in Daily Dose, Featured, Government, News Subscribe The Best Markets For Residential Property Investors 2 days ago Home / Daily Dose / Federal Reserve Announces Rate Hike, as Predicted Not all of those on the Fed’s rate-setting committee voted to raise the rates. Wall Street Journal reports that Minneapolis Reserve President Neel Kashkari voted against the action, saying he preferred to hold rate steady for now.Experts had weighed in on the effects this hike may have on mortgages, particularly adjustable-rate mortgages.“On the adjustable rate mortgages, the nuance here is that people facing a reset on their adjustable rate loans are the most susceptible to these rate hikes, and the cumulative effects of these rate hikes,” said BankRate VP and CFA Greg McBride.The Fed had already signaled three rate hikes this year, though McBride stated, “I only had them raising rates twice this year, which would put the fed funds rate at between one and one and a quarter percent.”According to Fannie Mae, the rate increases are not expected to impact housing in any major way. “Today’s FOMC decision to increase the target rate and the updated Fed officials’ economic projections that continued to show a median of three hikes this year are in line with our expectations in the March forecast released earlier today,” said Doug Duncan, Chief Economist at Fannie Mae. “We believe the Fed could stay on course to achieve its dual mandate with a gradual monetary normalization, which would allow housing to continue to expand. Given continued solid job growth and recent income gains, we believe this pace of rate increase will not derail the ongoing housing recovery.””As anticipated, the FOMC went forward with the first rate hike of 2017,” said National Association of Federally-Insured Credit Unions Chief Economist Curt Long. “Given that inflation is rising and approaching the Fed’s 2 percent target, Fed officials had little choice but to raise rates.The rising mortgage rate isn’t expected to affect housing demand in spring, according to First American Chief Economist Mark Fleming.“Reports have suggested, or surely will, that this rise in mortgage rates will be the demise of the housing market. That’s just not so,” sid Fleming. “Yes, many existing homeowners will have a financial disincentive to sell because they would lose their lower than prevailing mortgage rates in doing so, the so-called rate lock-in effect. I have suggested that this is one of the reasons we see low inventories in most markets today, but it’s not as simple as that. We don’t act rationally. Even economists who, of all people, should know better.”The FOMC had previously raised the federal funds target rate to a range of 0.5 to 0.75 percent last December. March 15, 2017 1,640 Views Data Provider Black Knight to Acquire Top of Mind 2 days ago Fed Rates 2017-03-15 Staff Writer The Best Markets For Residential Property Investors 2 days ago Share Save Data Provider Black Knight to Acquire Top of Mind 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Related Articles The Federal Reserve announced a rate hike at a Federal Open Market Committee (FOMC) meeting and press conference, which experts had expected for some time now. The Fed had voted to raise the benchmark fed-funds rate by a quarter percentage point, to a range of 0.75% to 1%. Federal Reserve head Janet Yellen had previously hinted at a rate hike.center_img Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago  Print This Post Federal Reserve Announces Rate Hike, as Predicted Demand Propels Home Prices Upward 2 days ago About Author: Staff Writer The Week Ahead: Nearing the Forbearance Exit 2 days ago Demand Propels Home Prices Upward 2 days ago Tagged with: Fed Rates Previous: Equifax’s Data and Analytic Services Receive Upgrade Next: CFPB Orders Penalty Against Nationstar Sign up for DS News Daily Governmental Measures Target Expanded Access to Affordable Housing 2 days agolast_img read more

Comfort Staff Exchanges Medical Strategies with Colombian Counterparts

first_imgBy U.S. Southern Command September 12, 2019 Medical staff assigned to U.S. Navy Hospital Ship USNS Comfort (T-AH 20) met with Colombian military and civilian medical personnel to collaborate during subject matter expert exchanges (SMEE) at Battalion Córdoba military base, August 20, and University Hospital Julio Méndez Barreneche, August 26.More than 90 medical personnel attended the discussions that aimed to increase cooperation between both the U.S. and the Colombian military and health care professionals.“The intent is to ensure that we are an enduring partner with these nations and to build up interoperability, so that we can continue to work together in the future,” said U.S. Navy Lieutenant Commander Connie Johnson, officer in charge of the Comfort preventive medicine unit.The SMEEs focused on a variety of practices that included measures the Comfort medical professionals take to protect the health of service members and maintain mission readiness.“It’s an event of supreme importance because the U.S. military is teaching us many ways to prevent epidemic illnesses that all under-developed countries, like Colombia, have to confront,” said Colombian Army Lieutenant Colonel Janeth Rosero Reyes, Colombian army director of general medicine at Battalion Córdoba.U.S. Navy Lieutenant Commander Gwendolyn Mulholland, a nurse, and Hospitalman Juni Roscado, both assigned to hospital ship USNS Comfort (T-AH20), discuss their nursery experience during a subject matter expert exchange with Colombian nurses at the University Hospital Julio Méndez Barreneche. (Photo: U.S. Army Specialist Jacob Gleich)Other important topics discussed included sanitation standards at medical sites and the importance of clean water.“These exchanges end up having a much larger effect than just on the people who are attending,” said U.S. Navy Commander Ken Sausen, psychologist assigned to Comfort. “Those people pass on that information to their students and to other providers, perhaps to other generations of providers, which then has a much longer and stronger effect.”During another SMEE, U.S. Navy nurses discussed their process for training within their community. This included evaluating their use of devices such as IV pumps, methods of infection prevention, and how well they communicate to other medical caregivers or patients. “This SMEE presentation is focusing on different clinical skills that we find valuable to train our new nurses and corpsmen when they first show up to their facility, and they’re just learning how to get started,” said U.S. Navy Lieutenant Lauren Shuetz, a nurse assigned to Comfort. “We discussed some of those skills. Then we evaluated people on those skills and their ability to perform after their initial orientation.”Comfort’s mission stop is accomplished through the efforts of medical and non-medical personnel. The Comfort team is comprised of military and civilian personnel from the U.S. and partner nations, including Argentina, Brazil, Canada, Costa Rica, the Dominican Republic, Mexico, and Peru, along with several U.S. and international nongovernmental organizations, creating a dynamic team capable of delivering a variety of services.This marks Comfort’s seventh deployment to the region since 2007. At each of the upcoming missions, the embarked medical teams will provide care aboard Comfort and at two land-based medical sites, helping to relieve pressure on national medical systems caused partly by the increase in Venezuelan migrants.last_img read more