Wednesday, September 23, 2009
Fed slows $1.45T MBS buy program
I had a feeling this would happen. It's really unfortunate, but the Fed is now being influenced by the inflation hawks on the FOMC.
The Fed will do its declared total purchase amount, but the remainder--about $600 billion--will be spread out over the next six months rather than the next three.
Mortgage rates are not likely to rise substantially, but the lows are probably in for the year. If you are shopping for a mortgage, lock in your rate now!!!