Mortgage bonds are having a few bad days and interest rate are going up. Get used to it. We may see rates come down a bit in the next few weeks but by March rates should be on a stiff climb as the Federal Reserve Bank stops buying up Mortgage Backed Securities and the “real” rates begin to appear.
Keep in mind even with rising rates, this is still considered an incredible interest rate market. Waiting for the bottom, the lowest of the lows. That’s passed folks. The fat lady sang. If you are buying are planning to purchase a home in 2010 do it this Spring while rate are low.
Equal Housing Lender.