The Sky is Falling! Well, maybe not

Posted: February 11, 2010 in Uncategorized
Tags: , , ,

If only chicken little were around today!  He would be having a great time with all of the economic news hitting the press.  But, I think you would agree, he would be confused.

With the end of the government backed home buyer tax credit looming and the promise of the Fed to discontinue the purchase of Mortgage Backed Securities(MBS), rates must be rising.  They have to be, don’t they?  Aren’t the markets poised for this?  Oh, but wait a minute…….Mr. Bernanke said today in his testimony, that the phase out will be dependent on the markets.  Is he now backing off?  Can he afford to let rates rise into the 6’s by summer?  I don’t think so.  My bet is that rates don’t rise by summer.  No, I don’t have a crystal ball, but I feel as if I’m betting with Wall Street as opposed to going against them.

Nevertheless, if you are seeking to purchase, do not delay!  Rates are still very low and, obviously, the deals are out there.


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