Submit Feedback
Member Login
Blogs Homepage
Featured Entries
Recent Entries
Recent Comments
Tags
My Starred Entries
Create A Blog
RSS FeedThe Fed's parting Present for 2008: Low Mortgage Rates for Home Buyers |
Posted at Great Northeast Queens News by John Maniec
Dec. 31, 2008
Categorized in: Important Real Estate News
Tagged with: 2009, home buyers benefit, lower mortgage rates, more home sales, northeast queens, the fed
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, the timing couldn't be better.
Because December 31 is one of Wall Street's most thinly-traded days of the year, low volume is exaggerating the announcement's impact on mortgage markets.
Mortgage rates are lower this morning.
However, you may not have much time to act. Few mortgage lenders permit after-hours rate locking and bond markets close at 2:00 PM ET for the holiday. If you miss today's Fed-fueled low rates, markets re-open Friday for your second chance.
Word of the Day
Ask the Experts
Question of the Day
Member Login
Join RealTown
Request Password
RealTown RSS Feed