Intra-Day Interest Rates Changes for the Worse!

The Fed officially ends its program of purchasing mortgage-backed securities on March 31st, 2010 (six days from now). This aggressive program of purchasing these securities has been the pre-dominant factor in interest rates remaining at incredibly low levels over the last 12 months. Hence, the training wheels will come off in a week and we will all see how mortgage bonds fair on their own.

In the last 24 hours, mortgage bond pricing has worsened considerably, with lenders issuing multiple intra-day rate changes for the worse.

REALTORS:

If you have clients anxiously awaiting a seller's acceptance of their purchase offer or short-sale approval, call us immediately so we can discuss getting them locked in!

Jason Whitehead, Mortgage Broker
619-398-3500 x 110