Posts Tagged ‘Federal Reserve’
What’s in Store for Mortgage Rates?
I can’t think of an easier year to predict the direction of interest rates than 2010. It is safe to say that mortgage rates will be higher this year than they were in 2009. Unfortunately for homeowners and the real estate markets, the days of a 4.5% 30 year fixed rate mortgage cannot last forever.
In November of 2008, the Federal Reserve allocated $1.25 trillion towards the purchase of Mortgage Backed Securities. As of January 15, 2010, $1.137 trillion of this budgeted amount has been spent. By March 31, 2010, the entire $1.25 trillion is scheduled to be depleted. Once the Fed steps out of the market, the likelihood of higher rates is probable. Read the rest of this entry »
Posted in Budgeting, Education, Financial, Mortgage Rates, Scott's Thoughts | Tags: Federal Reserve, Interest Rates, Mortgage Backed Securites, Mortgage Bonds, Mortgage Rates | 
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