Word: benchmarked
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...nudged up its benchmark short-term Fed funds rate last week to 1.25%, from 1%. By itself that move will have little impact on housing. Yet the Fed is widely expected to push the rate to 2% by year's end and 3.5% by the end of 2005. The typical mortgage rate will surge to 7.5% from about 6% today, says Douglas Duncan, chief economist at the Mortgage Bankers Association. In that environment, says Duncan, home sales will fall 10% and mortgage activity, including refinancings, will fall more than half, to $1.75 trillion of new loans in 2005. Nonetheless, experts...
Certainly with the emergence of some of the freshmen—including Tylander and Caroline Hines, who finished second in the Ivies with 21 assists—and the growing experience of Nelson, this benchmark could be reached...
HEESEN: The last thing we want is irrational exuberance going back into this market. We invested nearly $106 billion in the year 2000--a total aberration historically. A lot of press reports use that inflated figure as a benchmark, which in our opinion is very wrong. We wouldn't mind seeing that year erased...
...year, you would have a face value of about 2.5% more, or $1,025. (If consumer prices drop, so does the face value, but never below your original investment.) The tradeoff is that TIPS carry lower interest rates than ordinary Treasuries. The 10-year benchmark Treasury recently yielded 4.72%, while the 10-year benchmark TIPS yielded just 1.99%. You come out ahead with TIPS only if their yield plus the inflation rate is greater than the Treasury yield over the time you hold the bonds...
...make up for lost time. Uncertainty surrounding how far and how fast rates will rise is what has investors running for cover. But few believe the coming rate boosts will stop the recovery. Economists generally expect orderly rate increases that by the end of 2005 will have pushed the benchmark short-term Fed funds rate to about 3% from today's 1%. Such movement would "reflect healthy economic conditions and be welcome," says Hugh Johnson, chief economist at First Albany Capital. Provided that rates climb slowly, a growing economy can absorb the incremental costs because profits, income and jobs...