The Mortgage Bankers Association has just predicted home interest rates will reach 5% in early 2014, rising to 5.3% by the end of 2013. This is predictable because the Federal Reserve has kept mortgage rates artificially low through its bond purchasing program. The recent announcement of the reduction of bond purchasing at the conclusion of the fiscal first quarter, and ending the purchasing program before the start of the fourth quarter, makes the rise of interest rates a 100% certainty. We predicted 5% interest rates in January 2014 at the beginning of 2013. NOW IS THE TIME TO PURCHASE A HOME. It is possible your buying power will never be this strong again during your lifetime.
Posted on: Thu, 31 Oct 2013 09:12:52 +0000
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