Yesterday, the Fed confirmed that its Mortgage Backed Security purchase program will end March 31, 2010. This announcement was expected, however, there WAS a chance that the program would be extended or expanded but this hoped for extension did not happen.
What this means for Mortgage interest rates is that without the extra demand that the Government has created for Mortgage Bonds, we could see a fall in Bond Prices and an increase in Mortgage rates beginning in April.
I will keep you posted of additional market news affecting mortgage rates.
Top three: All time most viewed
-
Even with my 20 years in the mortgage business, I double check all guidelines because they are continually changing. I had a call from som...
-
FHA loans in 1991: When I became a mortgage loan originator in 1991, I couldn't believe that there was a loan product which allowed all... -
Know How To Recognize A Good Mortgage Rate Mortgage lenders are often asked if there is a best time of day, day of the week, or period of...
