Mortgage Rates have been updated.
They have dropped because Secretary of the Treasury Paulson has decided to start buying mortgage backed securities. The idea is that they will increase the likelihood that rates will drop further.
Will they drop?
Will anyone else want to buy mortgage backed securities?
How long will the rates stay low?
How low will they go?
How many people will take advantage of the lower rates and refinance? How many people have enough equity to be able to refinance?
How many people will take advantage of the rates and go buy a new house?
I don’t know the answer to any of these questions, so my recommendation is to take the savings and lock in all loans……
Last 5 posts in Mortgage Rates
- A Kick in the Stomach? by the Fed? - November 5th, 2009
- So... What did the Fed do? - November 4th, 2009
- Home Refinancers Save $3 Billion - November 2nd, 2009
- So, How's the Mortgage Market Today? - October 29th, 2009
- RateWatch October 28 - Sustainable? Depends on what you mean. - October 28th, 2009
- Stumble it!
- Categories: Mortgage Rates, Refinance
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The FHA Streamline Program: Take Advantage Of It (If You Can!) | Mortgages Unzipped
[...] pointed out by other authors on this blog, interest rates have recently dropped and with the announcement by the Fed that they will be buying hundreds of billions of dollars of [...]