For its last move in an action-filled year , the Federal Reserve announced it will begin buying its pledged $500 billion in mortgage-backed securities next month . For home buyers and mortgage rate shoppers, the timing couldn’t be better.
In late-November, the Federal Reserve pledged $600 billion to buy mortgage-backed securities. The announcement drove down mortgage rates and started the Refi Boom. Then, the Federal Reserve made a second series of statements after its scheduled meeting last Tuesday, causing mortgage rates to plunge again
When the government nationalized mortgage lending in September, housing analysts predicted lower mortgage rates. For a brief two-week stint, they were right — post-takeover, the 30-year, fixed rate mortgage fell below 6.000 percent nationally for the first time in 7 months. Since then, however, mortgage markets have reversed. Rates are now at pre-takeover levels. Now, […]
Mike and Jean were a pleasure to work with. I have worked with other brokers in the past to re-fi my home, but Mike and Jean made the process stress ... more
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696435
We found Mike after another company's rates and fees seemed a bit high. We asked Mike what he could do and we were pleasantly surprised. We closed on ... more
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I would recommend to my closest family and friends. Mike and Jean were professional, honest and very helpful in explaining options, timelines and ... more
