The mortgage backed security market has been very quiet all week. This has kept mortgage interest rates very low.
The big news of the week is that the Federal Reserve issued their policy statement yesterday. In the Fed’s statement, they further confirmed their plan to end the mortgage backed security purchase program on March 31st. We always expected this date would stay firm, but some have whispered that this program might be extended. For more information on what this means for interest rates, read our 2010 Rate Forecast post from the beginning of January.
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