The Federal Reserve wrapped up its program of mortgage purchases this week, leaving it to investors to replace the demand. The level investor demand will have a great influence on the level of mortgage interest rates in the coming months. While rates have crept up around 25 basis points (1/4%), it's generally perceived that Cheap Mortgages May Last as Investors Replace the Fed.
It will be important for buyers and sellers alike to keep a close eye on rates as they continue to creep upward, for their impact upon affordability and payments is enormous. - David
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