Orlando Mortgage Blog

The Feds keep saying they intend to keep rates low (0 to .25%) for an extended period due to weaknesses in the economy. We've all heard those comments. But that doesn't directly relate to long rates (mortgages). So with the Feds pulling out of the MBS (mortgage backed securities) market in a week, congress licking its lips at the possible (legislated) demise or breakup of Fannie and Freddie and the full expectation that DC is chomping at the bit to make new inroads into our pockets to pay for all these social ideas with so many more plans to come that we will probably only have explained after those laws pass too....the bond issues have apparently lost their luster today, though the bond market may have opened flat, the 10 year jumped to 3.82% from yesterdays close at 3.69 and lenders have bumped their afternoon 30 year fixed rates up by an 0.125% to 0.25% across the board...bye-bye 4.875 at zero points, at least this afternoon. Still on the fence? Read more...