22 November, 2013
Mortgage News – Mortgage Interest Rates Rising
On Wednesday, November 20, 2013, the Federal Reserve released the minutes of their meetings. The expert consensus is that they will wind down their bond purchasing in the “coming months”. Although several markets are supported by the Fed’s actions, interest rates are the most sensitive to the actions of the Federal Reserve. The Fed is buying approximately $85 BILLON of bonds that include mortgage backed securities. Because they are buying bonds they are keeping the rates low by keeping the demand for bonds high.
Shortly after the press release, the mortgage interest…
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