Home Mortgage Interest Rates Are Decreasing On The New Fed Program

Yesterday, the Federal Reserve Board made a bold attempt to break the log jam in the mortgage credit markets, by creating a new lending instrument for banks. This allows mortgage-backed securities to be used as collateral. This is a step in the right direction to help alleviate the credit crunch and improve liquidity in the financial markets.

If you are in the process of buying a home, for today, I recommend that we cautiously float in this volatile environment. I appreciate your trust in my advice and guidance, and I will continue to monitor the market's dynamics and keep you informed as we move towards our product and price strategy decision.