September 2013

Found 3 blog entries for September 2013.

Sharing news from our mortgage broker at Keyes:

Yesterday, the Federal Open Market Committee of the Federal Reserve Board announced they would NOT begin to "taper" bond purchases of Treasuries and Mortgage Backed Securities (MBS).  It was widely anticipated they would begin the process of reducing QE or Quantitative Easing during the meeting.  The markets were surprised and mortgage rates dropped sharply!

Great news for home buyers indeed!
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According to the associated press today, the average U.S. rates on fixed mortgages held steady this week, hovering near two-year highs.   Mortgage buyer Freddie Mac said that the average rate on the 30-year loan was unchanged at 4.57%  and the average on the 15 year fixed mortgage held at 3.59%. 

Even with the recent gain, mortgage rates remain low by historical standards.  But higher rates have spurred some homebuyers to close deals quickly and could slow the market's momentum if they continue to rise.  Bankrate.com polled the industry experts and 45% don't expect much change over the short term.  While a third (33%) anticipate higher rates, the remaining 22% think rates will decline a bit.

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