What is Happening in the Mortgage Market

What Are Rates Likely to do?

Mortgage Rates improved a little this morning thanks to the Fed reiterating its New Year's Resolution to purchase $500 Billion of Mortgage Backed Securities by June 2009.  If the Fed does actually make these purchases mortgage bonds should rebound thus driving mortgage rates lower.  Currently, there is little confidence in mortgage backed securities.  If the Fed buys these securities it will start a ripple effect in the market because investors will feel secure that the Fed will continue to buy if they the investor wants to sell.  With the Fed's new program starting early next month, we should see improved Mortgage rates ahead- But we're likely to see more volatility as the New Year begins.

Lock and Float Down!  The peace of mind of knowing you are getting the best rate.

As we have all seen, mortgage rates are very volatile. One day the are down and the next day they are up. I want my  customers to have the best  possible rate. Lock in a rate today and if the rate goes up - you are safe. If the rate goes down - I will drop the rate to the lowest rate possible prior to closing. Certain conditions apply, call for the details. 

Jumbo Mortgages - Ask Us about our January Jumbo Mortgage Promotion!  Call me now 972-661-5136

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