Smyrna Mortgage Rate Update – Week of February 1, 2010
posted in Mortgages, Smyrna Vinings Real Estate |The Week in Review:
Good News/Bad News. The Fed announced last week that they will keep “rates low for an extended period of time”. However, they also announced that they will not be extending the mortgage-backed security purchase program scheduled to end in March.
Home loan rates experienced quite a bit of mid-week volatility but ended unchanged from the previous week.
What to expect:
What does the Fed announcement mean? The Fed maintains the ability to keep short-term rates low. However, their primary method of keeping long-term rates (ie. 30 year fixed mortgages) low was the mortgage-back security program. With this program ending, we have to believe that long-term rates will increase.
Breg-ometer:
Next 7 Days: Same range
Next 30 Days: Same range
Next 90 Days: Increasing rates
Courtesy of:
Bob Bregitzer
Southeast Mortgage
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