A little interest rate tip for those considering whether to refinance or deciding whether to lock in their rate...
The New York Federal Reserve, yesterday, reported that it purchased 21.7 billion dollars worth of MBS (mortgage backed securities) from April 9 through April 15. The purchases were mainly concentrated in the 4% to 6% coupon range.
What this does is tell us that mortgage interest rates have little chance for more improvement... unless, the FED starts purchasing 3% to 3.5% coupons.
SENIOR MORTGAGE CONSULTANT
SOUTHERN CALIFORNIA REFINANCE SPECIALIST
CASTLE HOMES AND ESTATES
Serving the cities of Beverly Hills, Ladera Heights, Culver City and beyond... Southern California refinance specialist JB Brookman. 310.502.9877
"Because We Know Your Home Is Your Castle"