In the wake of the Fed’s decision to continue pouring $85 billion per month into the economy until further notice, yields on US treasuries have been dropping, and mortgage interest rates have been dropping with them. Prior to the announcement, the financial markets were fully expecting the Fed to begin easing back on its stimulus program and had already adjusted rates accordingly in anticipation. The surprise news from the Fed has sent mortgage interest rates lower.
This is terrific news for folks who thought they had missed the chance to refinance or buy a home at low rates. While rates are unlikely to set new record lows, they have dropped significantly in the last week. Contact us in the sidebar today to learn more and to be referred to a specially authorized lender who can help you with a government-backed refinance or home purchase loan.