Did you hear it? That rapping, pounding screaming sound outside the door of the housing market. That sound is a result of the Fed not beginning the process of dialing back the quantitative easing by buying bonds this week (It also may mean they're concerned about overall economic stability). I believe mortgage rates will ease back in the coming weeks (geopolitical events notwithstanding) as a result. Some what the opposite effect of the Bernake speech in June that shot rates from 3.5%+- to nearly 5% in about a week. If rates ease back now this will likely be the last time for awhile we'll see these low home mortgage numbers and the savvy buyers will be making hay. Watch the market carefully as buyers will be pouncing on opportunities and taking advantage of the low rates. If you're one who's been on the fence, get off it. Now is truly the time.
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