The Mortgage Bankers Association (MBA) predicts rates on 30-year fixed-rate mortgages could rise a bit in the second half of this year.
They see this gradual rise in mortgage rates continuing, even if the Federal Funds rate does not increase for another six to 12 months, as many economists expect.
That's because both the Treasury Department and the Fed announced last month they would start selling their huge portfolios of mortgage-backed securities.
Some analysts believe these moves will raise rates.
Bottom line: now is a good time to buy with rates dropping a bit today (Monday, April 18, 2011)
From my weekly enewsletter for real estate pros, INSIDE LENDING, for the week of April 18, 2011.
Comments(0)