Good news for buyers and homeowners! In a move designed to lower interest rates and make credit more widely available, the Fed has committed to buy another $750B in Mortgage Backed Securities.
There are speculations that this action will push mortgage rates down close to 4%. That remains to be seen. However, the present rates are at near historic lows. Wells Fargo is posting 4.625% today on a 30-year fixed conforming loan!
With prices near or at bottom, and rates at extraordinary lows, the time is right for purchasing or refinancing. Call your mortgage broker today and explore your options.
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Renting with an Option to Buy
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