Tuesday, March 16, 2010
The Fed today pledged to keep their key interest rates at the near-zero level. In the 'old' days this would likely signal that conventional mortgage rates would remain at their current low levels. However, the Fed also announced that they will stop purchasing mortgage backed securities at the end of March. Some analysts had thought that mortgage rates would likely spike when the Fed stops, but some now feel that any rate increases will be minor. Read the story on the CNBC website.... Here.