About Government Refinance and Home Purchase Programs

Information and Updates on Government Mortgage Programs
Filed under Government Mortgage Financing Programs News

There was an interesting article over at Business Week recently speculating on how soon mortgage interest rates will go up. The short answer is this author thinks we might have relatively low rates through the winter. Here are some excerpts:

When the economy—and the real estate market—tumbled in 2008, the Fed stepped in to lower interest rates. As we have seen throughout history, lower interest rates makes housing more affordable, increase the likelihood of transactions, and ultimately produce stabilization in the residential real estate market. A major clue to where the residential real estate market is headed lies in the question of where interest rates might be headed.

You and I aren’t the only ones doing the watching. If you see the 30-year mortgage rate start to climb relative to other interest rates, it’s a sure indication that your friendly neighborhood mortgage broker thinks a Fed rate hike is on its way—and that mortgages rates will climb.

So if you are thinking of buying or refinancing a home, this is a pretty good time to move, before rates begin to rise again.

Comments (0) Posted by G.R.A. Admin on Wednesday, October 28th, 2009

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