It seems that the federal reserve's trillion dollar purchase program of mortgage-backed securites has pushed the mortgage rates a little lower than they would normally be.
I think that was the intent, and it's great for current buyers to be able to get into homes more affordably.
But the federal reserve seems to be hinting that it will be bringing that program to a close after the first quarter of 2010.
If that's the case, we're probably going to see the current average rate of 5% more than likely jump to 6%.
If you're sitting on the fence about buying or re-financing, now is probably a good time to lock in that rate!
