Today the FOMC released a statement that they will buy another 750 BILLION more mortgage backed securities on top of the 500 BILLION they have already committed to in the first 6 months of this year. They also committed to buying treasuries going forward as well. That send everyone and their mother into the treasury and mortgage backed security market today and rates have taken a sharp drop just today. In the 14 years I have been in this business, I have only seen a drop of this magnitude 1 or 2 times. NOW is the time to get off the fence for a refinance. You 'magic' rate is here. Please call me to discuss how I can save you money each month.
Here is a link to all the information you need on the stimulus bill refinance. http://www.mortgagenewsdaily.com/du-refi-plus.pdf
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