Refinance mortgage rates are observed extremely close to 5% in early week of September 2009. For the entire first week of September the refinance mortgage rates test this psychological floor, and for several hours on specific days the mortgage interest rates break through 5% but there has been no conviction. It looks as if we are going to continue to see mortgage rates drop throughout September but October will get a boom in rates.
On the Federal Reserve Bank’s side, it stated that they are going to stop buying US Treasuries by the end of October. The plan was initially to stop purchasing treasuries by the end of September but Ben Bernanke and the Fed presidents decided they would extend the program through October. When the Fed does stop buying treasuries we can only hope that foreign investors jump in and soak of some of these investment vehicles.
Read a detailed report by subprimeblogger
2 comments ↓
[...] admin wrote an interesting post today on<b>Refinance Mortgage</b> Rates UpdateHere’s a quick excerpt [...]
[...] admin wrote an interesting post today on<b>Refinance Mortgage Rates</b> UpdateHere’s a quick excerpt [...]
Leave a Comment