Renee Grosz's Real Estate Blog

In December the interest rates on a 30 year fix dipped to a 38 year low! How long will they stay this low? The clock is ticking, In September 2009; the feds said it would gradually wind down the purchase program that has been purchasing mortgage-backed securities guaranteed by Fannie Mae, Freddie Mac and Ginnie Mae in an effort to stabilize the housing market which will be ending March 30, 2010. This has the mortgage lending industry worried. Home buyers should be excited  right now with interest rate being low, housing prices at a low and the expanded federal tax credit which will expire in the spring!