Interest Rates Climbing Soon
Interest rates are most likely on their way up the beginning of next month. The biggest factor in what has kept rates this low for this long has been the government’s mortgage backed security (MBS) purchase program. The government has been purchasing mortgage backed securities at very low rates which in turn causes our mortgage rates to maintain their low levels. This program ends in 19 days which many believe will cause rates to jump up .25% to .5% immediately after it ends.
Follow this link to read more about the MBS purchase program ending:
http://www.cbsnews.com/stories/2010/02/26/business/moneywatch/main6247255.shtml
Posted at 08:00AM Mar 26, 2010 by Louisa Ward & Robyn Viktor in General | Comments[0]
