From Tom Henichek, a local loan officer at Mountain Mortgage
- Tom Henichek
On Wednesday, the Federal Reserve agreed to purchase a large amount of mortgage securities since investors are sitting on the sidelines and not actively participating in these securities.
This action spiked a short term rally in the stock and bond markets with the bond market seeing its largest yield decline since 1962. Interest rates declined .25% but we are not sure how long this exuberance will last.
Many bond experts are predicting that since the government is backing these securities, interest rates will continue to decline providing home buyers a significant savings.
Keep your eye on the market and stay in touch – this could be the time for make that purchase!
For more information about the current financing market or to get pre-approved, call
Tom 928-775-9330 or email him at tomhenichek@cableone.net.
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