March 31st, 2010 9:08 PM by BILL WILBANKS
Today was the last day of the Fed MBS purchase program that started in November of 2008. Tomorrow begins a brave new world for mortgage rates. Though most forecasters don't expect vast movement in the next few days or even weeks as investors try out the market looking for their comfort position in the near term, we're all going to be out there without a safety net.
Mr. Bernanke has stated that the FOMC will continue to monitor results and impact on the mortgage market of this pullback, not wanting to further aggravate an already sickly housing industry. Time will tell. If I were thinking of refinancing, in any way, in the near term I think I'd get in line to buy your ticket. Remember I told you so.