Interest Rates Rising

By
Real Estate Agent with USA Realty and Loans

The federal government will stop buying mortgage backed securities at the end of March. This means that instead of being a buyer which, drove interest rates to where they are today, they are going to become a seller of mortgage backed securities. This will likely mean the end of the low rates we have enjoyed for just over a year. This does not even mean rates will remain low until the end of the month, you may only have a week or two left to get the best rates. Keep in mind it takes about a week to lock in an interest rate from application to submission. The window of opportunity may be closing extremely fast. Don't wait.

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Rainer
44,219
The Villages Florida Real Estate
RE/MAX Premier Realty - The Villages, FL
Living and Loving Florida!

All those buyers sitting on the fence need to understand this...........Most propbably won't untill its too late!

 

Mar 02, 2010 03:50 AM #1
Rainer
27,628
Kenny Layton
Roots Real Estate - Fort Collins, CO
Fort Collins Real Estate Agent

If interest rates go up soon, will we see home values decline as a result? If so, how long do you think it will take the market to respond?

Mar 02, 2010 03:52 AM #2
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Larry Lawfer
YourStories Realty Group powered by Castles UnlimitedĀ® - Newton, MA
"I listen for a living." It's all about you.

I dare say our opinions may be wrong on this.  While the facts seem straightforward and non controvertable, the fact is the economy doesn't always work the way it should.  This volatility is why buyers are sitting on the fence.  I think our best approach is to share this information without weighting it as actionable.  Worse case scenero is that you suggest something is going to happen and it doesn't happen that way.  Then your credibility is shot.

Mar 02, 2010 04:03 AM #3
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