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Snag a Mortgage Before Rates Rise!
To help keep interest rates low, the Federal Reserve has been purchasing mortgage-backed securities guaranteed by Fannie Mae and Freddie Mac since early last year.  This week, the Fed has stated that they will no longer be purchasing these loans.  This was a planned move by the Fed, that has brought up fears that interest rates may rise 1-1.5% by the end of this year.  One person told me, "Sorry for the sarcasm, but I've heard that one before." 
True, I have heard many people "in the know" stating that rates were going up, up, up only to see a minor increase followed by another drop in rates. 
This time is expected to be different though.  And here is why. 
When loans are originated (i.e. when people purchase a home or refinance a loan), these loans are generally sold on the secondary market, referred to as "mortgage-backed securities." 
Well, if you are an investor, you want to put your money where you get the most return on investment given your risk parameters.  With the departure of Fannie Mae and Freddie Mac from the scene, private investors will once again need to be the ones to purchase these investments.  Keep in mind, these are ... more

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