Scott Phippen Lending Team

Posts Tagged ‘Mortgage Bonds’

Thinking back on all the years we’ve been in business, we’ve had the wonderful opportunity to assist people with their mortgage needs. Whether it be the purchase of a new home or a refinance we’ve had the great opportunity to get to know a lot of wonderful people. We’ve written the following article to help you understand the importance of finding the right lender. We also want to emphasize the excitement and passion we have for the industry we work in. We’ve spent hours upon hours studying and learning how the mortgage market moves and works, so we can use that knowledge for the betterment of our clients and their unique situations. We’d encourage you to take a read and pass the article along to your friends and family. With the Scott Phippen Lending Team, we are here to serve YOU. We hope you enjoy!

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 »

If you’ve ever wondered how interest rates work? Take just a few minutes and watch this great video. It’s a very simplified version of how interest rates move UP and DOWN in this very volitale market. You’ll get a small taste of what we monitor each and every day. Enjoy the video!