Mortgage interest rates are holding steady again today despite some dismal economic reports that were released this morning. These reports, which study Retail Sales in the US, came in much lower than expected. This news would often send money into the bond market and lower interest rates. However, we are not seeing much impact so far today.
With the upcoming end of the Fed's Mortgage Backed Security purchase program and the continued borrowing of money by the US Treasury, I do believe that we have seen the bottom for interest rates. Get more information on my outlook for 2010 by clicking on my January post with the title 2010 Rate Forecast.
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