Low Mortgage Rates Could Be Over After March 31, 2010
Posted on | December 16, 2009 | No Comments
After the Federal Reserve Bank meeting we have learned that the mortgage backed securities purchase program is going to conclude on March 31st, 2010. This means that you have a few short months to lock in to low mortgage rates. With the Fed still buying up mortgage backed securities, mortgage rates should stay relatively low but once this program stops you can expect to see mortgage rates around .5% to 1% higher.
There are many reasons that you should think about locking in to a low mortgage rate today. There are many government programs to help you save, there are great values in the housing market, tax credits are available for many buyers and these mortgage rates below 5% may never happen again in your lifetime. There is no reason that you should not at least look into the idea of refinancing or getting your first mortgage today.
With most lenders advertising very hard it should not be difficult to find low mortgage rates. You can do this from the comfort of your own home or office. Please make not that you will not get a 100% accurate mortgage rate quote until you actually go through the mortgage application process.
Author: Jesse Wojdylo
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