Mortgage Rates

Posted on January 28, 2010. Filed under: Industry News, Interest Rates | Tags: |

It appears the Fed is unwilling to commit to ending the MBS (Mortgage Backed Securities) purchase program that is helping keep mortgage rates low.   The program was to set expire this quarter as the $1 trillion and change marked for the program is close to exhaustion.   The Fed has shown consistency in its understanding of how important the housing market is to overall economic recovery and rising rates, combined with a simultaneous end to the housing tax refund (also in April), could suffocate recent improvements in the economy. 

The Federal Open Market Committee recently took a “wait-and-see” stance on possible continuance of the MBS purchases.   This is an important stance to follow so check back….


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