low interest rates: Act NOw!!! InTeResT rAtES arE GOinG uP ThIS SuMMer - 01/10/09 06:29 AM
By Julie Haviv
     NEW YORK, Jan 8 (Reuters) - Massive efforts by the Federal Reserve to bring down mortgage rates have so far been a success, but homeowners had better act fast because analysts say record low rates could be gone as soon as this summer.
    Thirty-year mortgage rates dropped to a low of 5.01 percent this week -- their lowest since 1971 -- after the Federal Reserve unveiled a plan in late November to buy as much as $500 billion of securities backed by Fannie Mae , Freddie Mac and Ginnie Mae.
    They could touch as … (1 comments)

 

Mark Lawrence

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