Local News

LendingTree Economist: Interest Rates To Hold

Posted October 23, 2006

— The Federal Reserve will maintain its recent hold on interest rates at its meeting on Oct. 24-25, according to


Chief Economist Jim Svinth.

LendingTree provides online mortgage, real estate and other related services.

"The economy is slowing, yet still resilient," Svinth said in a statement Friday. "The recently released PPI and CPI data were generally in line with expectations and appear to give the Fed minor comfort that core inflation is abating. Aided by lower interest rates of late, the housing market is managing an orderly correction."

The federal funds rate has been held at 5.25 percent since August.

"At this juncture, with nothing materially changing and with elections coming up, there is no reason for the Fed to make a move in either direction at the October meeting, or for that matter in coming months," Svinth said.


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