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Friday, February 28, 2014
Tuesday, February 18, 2014
Mortgage Rates Projected to Rise as Tapering Continues
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It is projected that if the Fed
continues to cut back on bond purchases that long term mortgage rates would
start to climb. Many experts felt that Janet Yellen, who replaced Ben
Bernanke as Fed Chair, was going to be less inclined to continue tapering
bond purchases at the level established.
However, in her testimony in front of the Financial
Services Committee last week, Yellen made it quite clear that she will in
fact continue the current pace of tapering:
“In December, the
Committee judged that the cumulative progress toward maximum employment and
the improvement in the outlook for labor market conditions warranted a modest
reduction in the pace of purchases, from $45 billion to $40 billion per month
of longer-term Treasury securities and from $40 billion to $35 billion per
month of agency mortgage-backed securities. At its January meeting, the
Committee decided to make additional reductions of the same magnitude. If
incoming information broadly supports the Committee's expectation of ongoing
improvement in labor market conditions and inflation moving back toward its
longer-run objective, the Committee will likely reduce the pace of
asset purchases in further measured steps at future meetings.”
What does that mean to a
prospective purchaser? Currently, Freddie Mac’s 30 year rate is at 4.28%.
Here are the projected interest rates for this time next year:
By Keeping Matters Current
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Thursday, February 6, 2014
California Median Home Prices by County
California Median Home Prices by County 2014
No matter your price point, California really does have it all.
California Association of Realtors
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