Mortgage Rates Moving Lower? Fed Says NO To Tapering of QE3...

Mortgage and Lending with Movement Mortgage NMLS # 574681


Good afternoon...

Today. Ben Bernanke, the chairman of  the Federal Reserve stated that they have decided not to scale down their monthly asset-purchasing program. 

They said they're unsatisfied with the pace of economic growth and the timing isn't right to taper the program. Mr. Bernanke then stated the Fed has officially downgraded its outlook for the economy. 

Some stocks on the major indices surged to record highs, while bond yields dropped significantly lower, as the benchmark treasury yield fell to 2.693 (at the time I write this). 

All of this means that we hope to see a mortgage rate rally, spurred on by investor confidence that the Fed will continue to spur economic growth. 

At some point, though...quantitative easing WILL end. That's when rates will definitely spike. Don't get caught waiting until that point...

Posted by

JP Marzano

NMLS ID# 574681

O: 312-654-7216

M: 312-608-1555

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