NOW IS THE TIME TO BUY...WITH MORTGAGE RATES AS LOW AS THEY ARE, FIND OUT HOW YOU CAN TAKE ADVANTAGE OF THE LOW PRICES OF HOMES, AND THESE INTEREST RATES. MORTGAGE RATE UPDATE The projected longer term good news about this for 2009 is the pick up in activity for home buying. The Federal Reserve this month, opened their checkbook for the first time on its promised shopping spree for buying mortgage-backed securities. The Fed plans to buy up to a half-trillion dollars' worth of mortgage-backed securities in the first half of 2009. When you heard all the hype about 4.5% interest rates, this is one of the reasons for the hype. Think of the Fed as an extremely deep-pocketed bank, competing with other banks to provide money for mortgages. When banks compete, you win: Rates go lower, and...
Comments
0