Minneapolis Fed Chief Defends Dissent on Rate Hike

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On the corporate front, US-listed shares in Deutsche Bank were down 3.42% after the German lender said it will raise €8bn by selling its shares at a 35% discount to last week's closing price as it looks to shore up its finances.

The widely anticipated Fed hike last week, only the third in almost 11 years, took the overnight fed funds rate to a target range of 0.75 percent to 1 percent.

That implies all seven members of the Board of Governors in Washington, including Chair Janet Yellen, Vice Chair Stanley Fischer and New York Fed chief William Dudley, have also probably forecast three increases in 2017. "Given continued solid job growth and recent income gains, we believe this pace of rate increase will not derail the ongoing housing recovery". "Even economists who, of all people, should know better". Furthermore, "market-based measures of inflation compensation remain low; [and] survey-based measures of longer-term inflation expectations are little changed, on balance." .

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Kintampo Falls is a tourist site popular among domestic and worldwide tourists who throng to the area in the thousands every week. Also president Akufo-Addo in a series of tweet expressed his deepest condolences to the grieving families.

"Reports have suggested, or surely will, that this rise in mortgage rates will be the demise of the housing market". Over the last 12 months, the all items index rose 2.7 percent before seasonal adjustment.

Kashakari also questioned Fed's excessive bond-buying efforts, which are now up to $4.5 trillion in holdings, as a policy tool, adding that the Fed needs to explain its plans for unwinding the holdings "once data support tightening monetary policy". "And while it is likely the announcement of that plan will not trigger much of a market response, we don't know that for certain". "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". If you are looking to refinance, you should be able to find five-year variable rates in the prime minus 0.45% range (2.25% today), depending on the terms and conditions that are important to you. As such, the spike in our fixed mortgage rates that some had feared did not materialize, and that means its steady-as-she goes for both our fixed and variable mortgage rates.

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