First Time Home Buyers
Today’s interest rates are slightly higher than Friday’s. Inflation was contained, but even subtle increases can cause rates to jump. In the past few weeks, bonds have risen back to the top of their trading range.
That means that rates are more likely to go up than go down. Added to it, President Obama announced a $3.8 Trillion budget today. In order to pay for a $1.3T deficit, the Treasury auctions will continue for some time.
This could have a negative impact on Mortgage Bonds and home loan rates, especially after March 31st, once the Fed is no longer buying Mortgage Backed Securities.
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