Investors to Pick Up Slack in Mortgage Backs — New York Real Estate

Investors to Pick Up Slack in Mortgage Backs

by John Tayeb on April 4, 2010

Mortgage Backs

The Federal Reserve ends its purchase of mortgage securities this week and private investors are expected to step in.

The change probably won’t push mortgage rates up very much. Analysts expect they will rise less than a quarter of a percentage point in the next three months. That gain would increase a monthly payment on a $250,000 mortgage by $30.

In a statement released March 12, Freddie Mac predicted that mortgage rates would average 5.2 percent on a 30-year fixed loan after the Fed stops buying. Fannie Mae put the rate slightly higher at 5.13 percent.


Source: Bloomberg, Kathleen M. Howley (03/30/2010)

Posted via web from New York Real Estate Access | Real Estate Blog

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