What’s Ahead For Mortgages?
Well folks, it looks like at the end of the month, March 31, 2010, the Federal Reserve is going to stop buying mortgages backed securities. This translates to you and me: higher interest rates. If they inch up over 1% hold on tight because we could be headed towards the steepest roller coaster ride yet.
On the other hand if that happens look for the government to step in and start buying again. It will show them that they need to spend more than the 1.25 Trillion Dollars that they have already spent. BTW that’s yours and my money they are spending.
Problem is some damage will be done that could have been diverted if we start doing some smart things. You know things like transparency of lenders along with accountability to include halting those heafy bonuses they give each other. Let’s fix the process first guys and gals uh?
Recommendation: Buy your home or refinance your mortgages TODAY!
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