Are Mortgage Interest Rates on the Rise in 2010?

Mortgage Backed Securities have dropped 263 base points since their low on November 27th. This information along with the information the Fed is winding down the buying of Mortgage Backk Securities, as stocks and cash are becoming more attractive alternatives, along with that the existing home sales figures coming in higher then expect ( 6.54m sold v. 6.2m expected) there is increasing press on interest rates to climb upward next year. Add to that the Dow is now over 10,000, the low was at 6,763.29 in March 2009.
Buyers who are waiting for prices to fall further may be in for a surprise when as interest rates climb and their buying power gets smaller. Remember, the amount of house you can afford is dependent on the purchase price of the mortgage = the interest rate.
Now is the time to buy while home prices and interest rates are still low at the same time.
To learn more call me at 925-548-1699