How Recent Rate Movement Could Affect You

We’ve recently seen a rapid rise of mortgage rates over the past month, accelerated last week by the Fed’s announcement that they are going to begin a “scale back” of bond purchases later this year.

In the past, to boost the economy, the Fed began buying huge amounts of mortgage back securities, keeping rates at historically low.

Now with signs of steady growth indicating that the economy is no longer in a recession, the Fed’s “scale back” is pushing investors sell their mortgage backed security positions, resulting in rates moving higher.

What does this mean to you?

Email me or give me a call and I will personally walk you through the implications of this news on your position.

If you have been on the fence to buy or refinance, now is the time to choose.

Best, Jim

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