Are you a home buyer that will need a loan to buy a home later this year?
You should be aware that The Federal Reserve is preparing to exit a major program that has helped sustain the ailing real estate business, in keeping interest rate low over the last year. The purchasing of mortgage backed securities is a program under which The Federal Reserve has infused $1.25 trillion into the mortgage market and is scheduled to end March 31, 2010.The talk on the street ranges widely from interest rate increases up to 7% by later this year. The reality is probably somewhere between today’s rates and 7% but anyway you cut it the consensus is... rates will be increasing.