Press Releases

From the latest breaking news to media galleries, find a range of information on IAC and our businesses.

Press Releases

BACK

LendingTree Fed Rate Forecast: Chief Economist Predicts First Rate Change in Over a Year

Monday, September 17, 2007 - 04:05

CHARLOTTE, N.C., Sept. 17 /PRNewswire/ -- The next Federal Open Market Committee (FOMC) meeting will take place on Tuesday, September 18. LendingTree Loans Chief Economist Jim Svinth forecasts a rate decrease of at least 25 basis points.

Svinth states, "With continuing deflation in the housing market, the current credit freeze, and the recent employment data, the Fed will be looking to prevent any broad economic downtown by reducing the target Fed Funds rate by .25% to .50% tomorrow."

Svinth adds, "The market has already priced in at least a .50% reduction over the next two Fed meetings. Anything less than this will give the impression the Fed is out of touch with how the housing and mortgage markets are truly hitting Main Street."

A rate cut tomorrow will break a year-long pause campaign that has been in effect since August 8, 2006.

About LendingTree, LLC

LendingTree, LLC is the nation's number one online lending exchange, providing a marketplace that connects consumers with multiple lenders that compete for their business. Since inception, LendingTree has facilitated more than 20 million loan requests and $152 billion in closed loan transactions. LendingTree provides access to mortgages and refinance loans, home equity loans/lines of credit, auto loans, personal loans, credit cards and high-yield savings accounts via http://www.lendingtree.com/ and 800-555-TREE. Launched in 1998 with headquarters in Charlotte, North Carolina, LendingTree, LLC also owns and operates LendingTree Loans(sm), LendingTree Settlement Services, LLC, GetSmart®, and HomeLoanCenter.com. LendingTree, LLC is an operating company of IAC (NASDAQ: IACI).

  Media Contact
  Allison Vail
  allison.vail@lendingtree.com
  (704) 943-8339

SOURCE: LendingTree, LLC

CONTACT: Allison Vail of LendingTree, LLC, +1-704-943-8339,
allison.vail@lendingtree.com

Web site: http://www.lendingtree.com/

button Scroll Up