Mortgage Rates
Posted by Jim Hungerford on January 27, 2010 · Leave a Comment
As expected, the Fed made no changes to the fed funds rate. The FOMC statement confirms the plans to slow down the process of purchasing Mortgage Backed Securities, and in fact the purchase program is expected to be completed by the end of March.
It is felt that this purchase plan has artificially kept mortgage rates roughly 1% lower.
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