The Fed Is Our Friend!!!
Yes...I noted it in red as we continue to see the Federal Goverment bleed a bit to boost the housing market. Recent announcements have indicated the Fed will buy mortgage backed securities.
This announcement caused a bump in the stock market and should send buyers scurrying into the housing market. Investors saw this move as the Government's commitment to jump start the economy...or at least not let the housing market take it down.
Those macro-economic issues are not as important in the immediate present to the home buyer. Rather the interest rates holding below 5%.....we are seeing mortgages on given days locking at 4% to 4.5%...truth be told, 4.5% has been more common than not presently.
But how long will the rates hold??? We have been asking that question for over 12 months.
If you are a Buyer, you best lock and load before the Fed stops(or can't buy) mortgage backed securites!!
Go get your 4% rate today!!!