RI Real Estate - Wait for the Government to extend tax credit??? - 09/24/09 09:40 AM
I wouldn't bet on it.  And even if they do, interest rates will be much higher very soon. 
The Fed announced that they will be scaling back the purchases of mortgage backed securities.  This program by the Fed has artificially kept mortgage rates low by providing a funding source for the resale of mortgages. 
When the Fed starts to back out of the purchasing, there is no assurance that the private market will jump in.  In this instance, real rates will rise to create the demand for these products on the secondary market.  
What does this mean?  If you can … (3 comments)

 
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Arthur Chapman

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William Raveis

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Rhode Island Real Estate. Information and commentary on the real estate market in RI. We have an office on Bellevue Avenue in Newport, RI and another office on Main Street in Wickford, RI. We are planning expansion throughout the state. William Raveis is the 10th largest real estate firm in the nation and the largest family owned real estate firm in New England. From Manhattan to Maine, we are New Englands real estate company. Newport, Middletown, Portsmouth, Tiverton, Little Compton, Jamestown, North Kingstown, South Kingstown, Narragansett, Charlestown, Westerly, East Greenwick, Cranston, Warwick, Providence, Lincoln, Barrington, Warren, Bristol, Scituate, Coventry, West Greenwich, Richmond, Foster, Glocester, Cumberland, East Providence, Westport,


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