FED Says Real Estate Market Should Start to Stand on Its Own as of April 1

US Federal Reserve has said that April 1, 2010, will be the first day that it will end its debt purchase program and allow the struggling U.S. mortgage market to operate without government assistance.

 

So the FED expects mortgage rates will rise about three-quarters of a percent to about 6 percent after that.

 

Are they kidding?  The US government already owns and controls Fannie and Freddy and FHA and about 95% of the home lending market now. 

 

I think that if the mortgage market struggles after April 1, we can expect the FED to get back into debt purchasing.

 

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Harrison K. Long, Explore Group, Coldwell Banker Previews, Irvine, CA.  Irvine Realtor.  CA DRE #01410855.  ExploreProperties@gmail.com.  Tel. 949-854-7747.  

                 

see National Association of REALTORS article - It's Time the Market Stands on It Own - click here.

 

 

Posted via email from Explore OC Homes