Whats going on in the market today?
The Government will stop the buying of the MBS (Mortgage Backed Securities) at the end of this month, March 2010. This will increase volatility in the state of the current interest rate market. I’m suggesting to all clients to “not what for the interest rate market to get better” We may have seen the last of the low rates. Funny as it is, we will not know the bottom until we have passed it up. But I’ve been warning clients all along that this will happen sooner or later-looks like our later is here or approaching fast!!
Some cities have been saying values in homes have been stabilizing or in some cases, values are getting better-I will do some market research on this and report back to you soon.
Rates still remain low and one can still get in on the First Time Home Buyer or Move Up Buyer Tax Incentive (see my archeives in this blog for qualifications)-which as of Friday, April 1-we only have 30 more days to get an accepted offer on a home and close on or before June 30, 2010.
Markets will close early on Friday do to Good Friday/Easter weekend.
I wish everyone a great Holiday!!!
