Mortgage Interest Rates: Get In Now

Filed Under Buyers, Mortgage Matters, Sellers, Sellers & Buyers | Comments Off

If there was a bar called Mortgage Interest Rates Place, right about now, the lights would be getting turned on and it would be last call.

The Fed did what they set out to do – purchasing $1.25 Trillion in Mortgage Backed Securities, and succeeding in their plan to lower home loan rates and help stabilize the housing sector. And even though they stretched out the length of the program slightly – in order to soften the impact of the end of the program – the training wheels are now off, the safety net is gone, and home loan rates have already moved higher.

In fact – as the Fed will now gradually become a seller of their massive holdings of Mortgage Backed Securities – rates are very likely to continue to move higher.

Even after home loan rates took a jump higher last week, they still remain at reasonably low levels – which makes right now a crucial time to take advantage of the opportunities that exist, including the Homebuyers Tax Credit which is down to its last month.

To take advantage of the generous credit, purchase contracts must be signed by the end of April. If you or someone you know has questions about this credit – please don’t wait to get in touch with me.