The Federal Reserve kept its benchmark interest rate at a record low today, even better used the language “Likely to warrant exceptionally low levels of the Federal Funds Rate for an extended period of time”. What does this mean to you???? The Feds have now left the door open as they say for continued talks about purchasing more mortgage back securities even after the money runs out this month. Although employment seems to be recovering, the housing markets still remain weak and will take some time to recover. The government had a plan to purchase 1.25 Trillion of mortgage backs over the last 14 months, the money runs out in just a few weeks. Guess again, there goes the deficit….
Good News: Mortgage rates may stay low for several more weeks!
Bill Nickerson
179 Great Road, Acton MA 01720
978.264.4803 (o) 978.273.3227 (c)
Providing Mortgages Since 1991
Commercial Residential Reverse FHA/VA
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