Buyers:
Window of Opportunity Still Open
|
|
Posted: 30 Sep 2013 04:00 AM
PDT
 The Fed recently
announced they would continue their current pace of purchasing bonds until
the economy was stronger. This bond purchasing program is the reason that
mortgage interest rates are at historic lows. Rates began to increase over
the last several months just on the anticipation that the Fed would announce
that they would be reducing the level of bond purchases last month. When that
didn’t happen, rates actually decreased (4.50 to 4.37).
That was great news for any
buyer in the process of purchasing a home. However, this window of
opportunity is expected to close in the very near future as most experts
expect the Fed to taper the bond purchasers in December. Even Ben Bernanke,
Chairman of the Fed, suggested that the Fed could still scale back the stimulus
this year. He stated:
"If the data
confirms our basic outlook, then we could move later this year.”
Where will mortgage
rates head in 2014?
The Mortgage Bankers
Association, Fannie Mae, Freddie Mac and the National
Association of Realtors have each projected that the 30 year fixed rate
mortgage will have interest rates in excess of 5% by this time next year. The
average of their four projections is 5.3%. The table below shows the impact
this will have on the monthly principal and interest payment on a $250,000
mortgage:
 A buyer
should take advantage of the current window of opportunity before it is too
late.  |
|
You are subscribed
to email updates from The KCM
Blog
To stop receiving these emails, you may unsubscribe now. |
Email delivery powered by Google
|
|
Google Inc., 20 West
Kinzie, Chicago IL USA 60610
|
|
With the provisionof6 month quick loansthe individual those who are in need of immediate cash can avail the funds even if their next pay to cheque is far away.
ReplyDeleteinstallment loans no credit check
bad credit cash loans online
Short Term Loans for 12 Months
When it comes to perfect Bathrooms Direct for our homes, which are often very suspicious that it is difficult, time consuming and expensive decision, but there are a variety of forms, and aspects that can be considered to give a better chance if the achievement Ideal bathroom next to you wanted.
ReplyDeleteFor More Detail us at: http://www.ukbathroomhub.co.uk/
It is exciting to imagine Leggings Online Combo asked the reinvention of popular ethnic wear. Suits emerged as one of the major trends that ethnic wear framework, increasing ease of use and offer great variability in the shade.
ReplyDeleteMore Details: http://www.nituwears.co.in/legging-combos.html